Markets wait for new yield information. August 18, 2022
Corn posted an Outside Day, one with a trading range past the prior day both higher and lower, but closed with only a minimal gain. This would suggest a little indecision. Though the trade is discussing a US yield decline of some sort for the coming months there are questions about how much could be seen. New contract lows for wheat and outside market concerns remain.
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Possible light fund short covering yesterday
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Open interest continues to fall drastically
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