AgResource Corn Comment and Analysis
CBOT Corn Rallies; Fails to Exceed mid-December High: CBOT corn futures followed wheat to modest gains of 1-2 cents. The market continues to struggle at $3.88-3.90, basis spot. ARC’s thesis is unchanged in that, over time, short covering lifts spot CBOT to $3.95-4.05. However, favorable South American weather and sluggish US export demand continue to…