Commodity traders stay bullish as CME Corn adds $14.25 or 2.41%

A quick look at yesterday: Corn rallied $14.25 (2.41%) deep into the session, reaching $605 per bushel.

Nevertheless, highly important Core Durable Goods Orders data from United States beat analyst expectations of 0% with a reading of -0.2%.

At the same time, United States Core PCE Price Index (MoM) (Apr) came out at 0.4, while a consensus of analysts was expecting 0.3. United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 193,100, while the previous figure was 191,500.

This rally in CME Corn's price coincides with other Grains as Rough Rice went up by 2.86% yesterday, and closed at $17.07. Oats goes up 2% yesterday and closed at $336. Soybeans added 0.93% and closed around $1,324 yesterday.

CME Corn hit a significant low of $554 around 6 days ago, but has since recovered 6.63%.