Corn Slides On Chinese Cancellation, CPI Number Ahead May 9, 2023
Bears noted Monday afternoon's good planting estimate was joined by other negative news. Moisture was slightly upped for the West for the week and there was a new Chinese cancellation reported. The July did not retest March or April price lows. Though the December did not test the major low from last week it did post a new low-close for this general downtrend. Both contracts left intra-day gaps at higher prices.
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