Corn Starts the Week off Lower

Corn futures were lower by 2 1/2 to 3 3/4 cents in the front months at Monday’s close. The USDA Crop Progress report showed maturity 11% behind average pace at 86%. North Dakota is only 65% mature, 28 percentage points behind average. Michigan is 27 percentage points behind their average with only 62% corn is mature, and Wisconsin is only 61% mature, 27 percentage points behind their average. The report also revealed corn harvest on the low side of expectations at 30% complete, as compared to the 47% average. Conditions were rated 56% gd/ex, up 1%, with the Brugler500 index up 2 at 349. Export inspections for the week ending 10/17 showed that corn exports had increased 10.6% over last week to 531,744 MT. That brought the MYTD total to 3,038,063 MT (119.6 mbu) only 38.2% of last year’s rate.

DEC 19 Corn closed at $3.87 1/4, down 3 3/4 cents,

MAR 19 Corn closed at $3.99 1/2, down 3 1/4 cents,

MAY 20 Corn closed at $4.06 3/4, down 2 3/4 ,

JUL 20 Corn closed at $4.13, down 2 1/4 cents

-- provided by Brugler Marketing & Management

Market Commentary provided by:

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