Corn Futures Reacting Cautiously to Bullish USDA Report
Friday, 12 July 2024, 16:58
Corn Prices Reacting Cautiously
Despite a positive USDA report favoring corn bulls, the market remains subdued as bears attempt to protect their significant short position.
Market Response
- Overall, futures are up fractionally to 4 cents so far on the day.
- Corn bulls received one of the more friendly USDA reports in a while.
- Bears are trying to defend their large spec net short position.
The monthly WASDE update showed old crop corn...
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