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Home / Futures Blog / Corn futures climb as inventories slip

Corn futures climb as inventories slip

March 27, 2013 by Daniels Trading

Reduced supplies in the globe's largest grower helped push up corn futures on Wednesday, according to Bloomberg.

Inventories in the U.S. likely slid 38 percent during the three-month period to amount to 4.995 billion bushels by March 1, according to the average of estimates issued by analysts and assembled by the news source. That represents the biggest drop since 1975 as the supplies dropped at the most rapid pace in nearly 48 months.

"Corn supplies are going to be tighter than we have ever seen," merchandising director Kent Jessen with Heartland Cooperative in Iowa told Bloomberg on Wednesday. "Some people are going to run out of corn this summer. Ethanol processors are the best bid for corn, and that is drawing supplies away from exporters and livestock producers."

At 1:13 p.m. on Wednesday, corn futures rose 0.86 percent, a 0.0575 increase to $7.365 per bushel.

Reuters reports this year's first shipment of corn from Argentina to the U.S. is en route and more shipments will follow. Those orders mark an upward drive from the Latin American nation to the globe's top grower of the grain.

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Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

Filed Under: Archived News

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Risk Disclosure

This material is conveyed as a solicitation for entering into a derivatives transaction.

This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.

Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

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