【Fuji Tomi】Tokyo corn slips but unable to fall further

(Tokyo Corn)
Tokyo corn on the 12th fell back after Chicago plunges. As of 11:00, the front-month May contract was down 120 yen at 22,610 yen.
With farmer selling, Chicago sank sharply. It is expected that weather in the U.S. Corn Belt will be ideal for planting from the weekend into early next week, which has led to more active selling by producers. After resuming, Chicago corn showed a cautious rebound but is once again being sold off. A somewhat forced recovery may push Tokyo’s downside to widen further. With selling kept in place, a move around 22,500 yen is anticipated. The currency market is also trending toward a stronger yen, which could become a factor supporting selling.
https://www.fujitomi.co.jp/?p=15072

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