【FujiTom】Chicago surges, but Tokyo corn's reaction is lukewarm

(Tokyo Corn)
Tokyo corn on the 11th rose in response to a sharp rise in Chicago, continuing to rise. As of 11:00, the front-month contract for March ahead was up 160 yen from the previous day at 21,720 yen.
Chicago is rising rapidly as funds, mindful of the planting season, buy back considering a weather premium, and Tokyo is rising since the night before. The previous day, the yen’s rapid depreciation had little reaction, so a sharp rise today due to a stronger yen was expected. However, a weak supply-demand report to be released at 1:00 a.m. Japan time on the 12th may cause buyers to hold back, and Tokyo has shown hesitation to rise in the morning. If the supply-demand report is bearish, it could exhaust the bearish factors, which can also be inferred from Chicago’s sharp rise at the start of the week. If viewed as a move ahead of weather risks, there could be a buying opportunity if there is a late-night dip.
https://www.fujitomi.co.jp/?p=14377

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