Corn Market News and Commentary

Corn futures head into the weekend 2 1/2 to 3 3/4 cents lower in the nearby months, Dec corn lost 6 3/4 cents on the week. The CFTC report this afternoon showed managed money spec funds still net short; however as of 10/15 it was only at 66,141 contracts making this now the 4th consecutive week where managed money has reduced their net short position for corn futures. Traders over estimated weekly corn export sales; the holiday delayed report from this morning indicated that for the week ending 10/10 corn saw 368,756 MT of export sales. That is up 29.6% compared to last week. Exports are still way behind last year, with the accumulated exports for MY through 10/10 at 2.637 MMT now 63.75% behind last year’s pace.

DEC 19 Corn closed at $3.91, down 3 3/4 cents,

MAR 19 Corn closed at $4.02 3/4, down 3 3/4 cents,

MAY 20 Corn closed at $4.09 1/2, down 3 1/4 cents

JUL 20 Corn closed at $4.15 1/4, down 2 1/2 cents

-- provided by Brugler Marketing & Management




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