Corn Reaches Upside Target

Continued gains for corn, for this year month-long rally, were noted. Old and new crop made new highs for this uptrend, a new high-close and they closed near the day's high. Weekly export sales were surprisingly positive for this week. Weather remains a moderately supportive factor. Near term drought measures continue to worsen. The government says July will be just fine but the trade is waiting for these short term forecasts to get into early July to verify. Allendale's official upside target for December corn is filled.

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