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Austin Schroeder at Barchart.com said, “Corn price action is down 3 to 4 cents on Wednesday morning. Futures climbed out of their overnight hole on Tuesday, though contracts still closed with fractional to 3 ½ cent losses. Preliminary open interest was up 24,013 contracts on Tuesday, suggesting net new selling.” Amanda Brill at Total Farm Marketing said, “US corn used for ethanol came in at 449.4 million bushels in May which was up from April but down 1.3% from a year ago at this time.” The Hightower Report said, “Pres. Trump’s hints that a trade deal with Japan is unlikely without them opening their rice market to the U.S., is a bearish factor.”
