Afternoon Comments 08/29
An increased production forecast seemed to depressing corn futures Friday. The corn market slipped Thursday night, then moved lower in response to news that the International Grain Council had boosted its global production forecast 4.0 million tonnes to 973 million. Nearby futures also seem to fail at technical resistance. September corn ended the week 2.75 cents lower at $3.59/bushel, while December dropped 4.5 to $3.6475.