Corn Update
By: James LombardoJune 8th, 2011 9:10AM CDT
Corn rallied to close 27.5 cents higher at $7.64 a bushel in Chicago as supplies continue to tighten, demand is rising for end users to lock in available corn, and ethanol demand increased .7% from last week. Mexico made a large purchase of US corn, a third of the purchase is for 2012-13 crop year. Traders are expecting the USDA to cut its forecast tomorrow during its monthly supply/demand report. These are very supportive of current prices and weather continues to be a major factor in trading.
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James Lombardo
Commodities Broker
After attending the University of Kentucky, James Lombardo was encouraged by friends in the industry to get involved in the markets. As a home-grown Chicagoan in the hub of the commodity markets, he came to appreciate the impact they have on the global economy. James came to RJO Futures to be a part of a top reputable firm and enjoys working in an environment where no two days are ever the same. Understanding his clients' objectives is critical in formatting a proper plan in helping them achieve.... Read More
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