Corn had a big week as we bounced off our 2 week lows to end up 4 on the week but had a range of 14 kept it interesting through the week. The funds sold off an estimated 5K contracts on Friday as we took a breather into the weekend, but as beans have shown a strong overnight rally it has pulled corn up as money flow and Chinese corn markets looks like it’s on a tear. USD is up 200 pts, DJ down 30 and crude down a touch. Producer cash on Friday again was low to non-existent as barring any rally over $3.70, expect that to continue here in the nearby, but there was some commercial pricing done on Friday. Besides money flow and some Chinese market action news is limited as fundamentals remain unchanged and S.America production has no large hiccups. Looking ahead to today, feels tight, if money keeps flowing could see a test of $3.70 but with only technical driving the picture currently the downside feels the easier route. CH has support at$3.6350 then $3.61 with resistance at $3.6750 then $3.70.
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