Corn lower on Thursday

Corn futures are lower at midday, down by 2 1/4 to 2 3/4 cents. Preliminary open interest rose 3,248 contracts on Wednesday’s sell off. USDA’s weekly export sales report this morning showed corn export sales were in line with expectations, listed at 487,944 MT through the week ending 10/31. That is 11.1% lower wk/wk, but is up 15% over the previous 4 week average, which is now updated to 474,279 MT. Corn exports were 317,879 MT (12.51 mbu) to bring the accumulated exports up to 3.939 MMT (155.07 mbu). Accumulated exports continue to be below last year’s pace, currently 37.16%. The report also showed that China had purchased 123,000 MT of Sorghum for the week. Up until that point, the country hadn’t made any purchase, or received any shipments of sorghum.

Dec 19 Corn is at $3.76 1/2, down 2 1/4 cents,

Mar 20 Corn is at $3.85, down 2 3/4 cents,

May 20 Corn is at $3.92, down 2 3/4 cents,

Jul 20 Corn is at $3.98, down 2 3/4 cents,

-- provided by Brugler Marketing & Management

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.