The corn market continues to play a waiting game, with farmers starting to wonder if time is running out on them.
Anxiety ratcheted up another notch last week after fairly positive fundamental developments failed to keep prices from slumping back toward 2009 lows. USDA kept it forecast for ending stocks unchanged in Tuesday's monthly supply and demand report, and export sales set a marketing year high by topping 60 million bushels on Thursday. But with fears of slow growth spilling over from Wall Street to LaSalle Street corn confronted headwinds and headlines too strong to buck.
Still, stabilization in export markets a good first step. While this is no longer a demand-led market, rallying would be tough if usage continued to slip.
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