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CBOT corn futures closes low accept weather and technical scale fatigued and wea
From;    Author:Stand originally

According to Chicago on July 18 message, zhou Wu of CBOT corn futures expands drop situation, the price continues to drop to be propped up to the technology under, because crop weather is good.

Corn contract will receive cent of low 21 3/4 to dollar of every bushel 6.09 1/2 in September, corn contract will receive cent of low 21 1/2 to 6.28 1/2 dollar in December, corn contract will close in March low 21 cent come 6.47 3/4 dollar.

Corn contract will drop in December, closing quotation is located in under 100 days of mobile and mean lines, for since October first. The price has touched from June 27 the agreement record of dollar of every bushel 7.99 1/4 glides bit higher, also glide from the 7.77 dollars that closing quotation will touch on July 3.

American corn is cultivated contain periodic rainfall and air temperature won't be unusually burning hot, situation of this kind of weather still is opposite market interest is empty. Trade business pays close attention to long-range weather forecast closely of late, search evidence of any burning hot and dry weather that destroy corn crop about the likelihood.

The analyst says, if did not come,unusually dry weather did not appear during pollination of crop of two weeks of corn, crop grows mostly will uncrossed, till autumn is earlier, at the appointed time inchoate frost will form a new weather menace to corn crop.

Trade business and analyst say, last month during the flood, a few people anticipate lowest of corn per unit area yield will achieve every acre 145 bushel, anticipate at present will achieve every acre 150 bushel or taller.

A few trade business and analyst say, if exponential fund is participated in,cast dish, corn price will drop further.

In addition, the analyst says corn price falls situation it is seasonal, because weather is basic side benefit is empty. The market is awaiting the crop crop that American Ministry of Agriculture will announce on August 12 and report of supply and demand.

Joel Karlin of Western Milling analyst says, it is very normal that the market will make content crop report to before announcing, drop continuously in August.

The analyst says, on some kind of angle, good weather will bring about the price to glide no longer.

The analyst Vic Lespinasse of Grainanalyst.com says, I do not know when this kind of case just can appear, but the market is excessive all the time to the reaction of weather.

Although this week crude price falls defeat to hit,press corn futures, but futures of Zhou Wuyu rice drops, although crude oil rises in price.

Corn futures clinchs a deal now quantity estimation is 260, 549 hands.
Origin: Article China finance and economics
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