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Fundamentals: |
The fundamental picture for corn hasn’t changed much;
prices continue to gain short-term strength on spillover support from
wheat. In addition, the
extreme heat in Europe has resulted in the International Grain Council
reducing their estimate for 2010/2011 world maize crop by 1 million
tonne to 823 million. Export
business remains strong, as weekly sales were pegged at 960,500 metric
tons, which was at the high end of trade estimates of 800,000-1,000,000
metric tons.
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