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“Prices were steady to $.01 higher in 2-sided trade. Spreads were mixed and little changed. Resistance for July-26 is at the recent double top at $4.87 ½. Dec-26 traded to a fresh 2 ½ year high before pulling back. China’s purchase of US corn will likely be a topic of discussion between Pres. Trump and Chinese leader Xi. The USDA did up their 26/27 corn export forecast 50 mil. bu. to 3.150 bil. despite raising their SA production forecast 10 mmt. The US House is expected to vote this week on legislation to allow the year-round sale of E-15. Surging wheat prices has provided support to corn as wheat will quickly work its way out of feed rations trading $2 over corn,” according to Mark Soderberg with ADM Investor Services.





