For the corn market, the bullish/bearish information has caused large swings in price.

For the corn market, the bullish/bearish information has caused large swings in price. For example, a slow export pace is bearish. Last week’s large sales were considered bullish. (FYI, the pendulum swung back to bearish this week.) Ethanol production is really close to the USDA’s number, but the fact that ethanol plants have poor margins is probably bearish. Feed use could go either way, but there is no concrete data until the January reports.Futures drifted lower following disappointing weekly export sales. Net sales for the current marketing year were only 9.3 million bushels. Trade estimates were about 20 million bushels. After sales of 30 million bushels the previous week, expectations for exports have ramped up. The outside markets were stronger which provided underlying support for corn. More rain fell overnight in central Argentina and forecasts for the next week look too wet for corn planting to move ahead. First notice day for December corn futures is Friday. No deliveries are expected. December corn was 8 3/4 cents lower at $7.51. March was 5 1/4 cents lower at $7.58 3/4.