Corn Market Commentary

Corn futures are 3 to 4 cents higher at midday. This morning’s FAS Export Sales report indicated that 1.007 MMT of 18/19 corn was sold for export in the week of 10/4, edging into the range of estimate. That was down 29.65% wk/wk and 36.25% lower than the same week in 2017. Mexico was the lead buyer of 354,600 MT, with sales to Japan tallying 281,700 MT and reductions of 267,100 MT to Unknown. Thursday’s monthly USDA report showed a few changes to the 18/19 balance sheet with feed and residual down 25 mbu and exports up 75 mbu to a record 2.475 bbu if realized. USDA calculated the final 17/18 cash average price at $3.36. They left the midpoint for this year UNCH at $3.50. The US stock market is under fresh sell pressure at mid-morning.

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

DEC 18 Corn is at $3.73 1/2, up 4 1/4 cents,

MAR 19 Corn is at $3.85 1/2, up 4 1/4 cents,

MAY 19 Corn is at $3.92 1/4, up 3 3/4 cents

JUL 19 Corn is at $3.97 1/4, up 3 1/4 cents

Market Commentary provided by:

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

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