Corn Market Commentary

Corn futures ended the Tuesday session down 1 to 2 cents in most contracts, with traders squaring positions ahead of the Thursday reports. This morning’s delayed USDA Export Inspections report showed 1.351 MMT of corn shipped in the week that ended on October 4. That was more than double the same week last year but slightly lower than the week prior. Total accumulated exports are now 5.806 MMT (just over a month into the MY) and 62.1% larger than this time last year. This afternoon’s Crop Progress report indicated that 93% of the US corn crop was mature as of 10/7, outpacing the average by 10%. Harvest was 34% complete as of Sunday, with the normal pace at 26%. Condition ratings were down 1% to 68% in the good/ex categories, with the Brugler500 index down 2 at 373.

DEC 18 Corn closed at $3.64 1/2, down 2 cents,

MAR 19 Corn closed at $3.76 1/2, down 2 cents,

MAY 19 Corn closed at $3.83 1/2, down 1 3/4 cents

JUL 19 Corn closed at $3.89, down 1 3/4 cents

--provided by Brugler Marketing & Management, Call (402) 289-2330

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