Corn Rallied on Friday

Corn futures followed Turkey Day with gains of 6 to 8 1/2 cents, which was enough to bump them to a gain wk/wk, of 2 1/2 cents. USDA’s weekly Export Sales report indicated 806,751 MT of net sales for the week ending 11/21. That was 2.4% more than last week, but was only 63.7% of week 12 last marketing year. The total commitments through the first 12 weeks are now at 14.069 MMT, which is 44.08% behind last year’s pace. The report also pegged shipments at 635,334 MT for the week, which was a 6% decrease wk/wk and 39.68% below the same week last year. There were zero delivery notices against December corn on first notice day. The oldest long is dated 5/17/19.

DEC 19 Corn closed at $3.71 1/4, up 8 1/2 cents,

MAR 19 Corn closed at $3.81 1/4, up 8 cents,

MAY 20 Corn closed at $3.85 3/4, up 6 3/4 cents

JUL 20 Corn closed at $3.90 1/4, up 6 cents

---provided by Brugler Marketing & Management




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