Fundamentally, China is one of the world's largest corn producers, producing roughly 220 million metric tons per year. It's being reported by the official Xinhua News Agency that the communist regime will end the stockpiling of corn and let the market dictate prices. This after about eight years of growing and storing corn to the point where there is a glut.
Fundamentally, with all the talk of trend following funds holding a record net short position in corn, it would seem that the market could be poised to make a push higher. Although for now, the corn market continues to remain range bound.