The September WASDE report showed figures as follows: U.S. corn production estimate for 2016 came in at 15.093bil bu and vs exp 15.027bil bu and vs August estimate of 15.153bil bu; U.S. corn yield came in at 174.4bu/acre vs exp 173.4bu/acre and vs August estimate of 175.1bu/acre; U.S. corn ending stocks(new crop 2016/17) estimate came in at 2.384bil bu and vs exp 2.329bil bu and vs August estimate of 2.409bil bu. Corn prices were left near UNCH at the end of the day after the release of the report. The DEC16CORN (ZCZ2016) contract, traded in Chicago, has retraced approximately 8% since its low at the start of the month. Could we see higher prices still? Nearby resistance is seen at $3.46 with nearby support at $3.33
CBOT Graph
on 16 September , 2016
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