Corn on a Midday Rally

Corn is making a big leap with the lower market volume on Thursday. Futures are plus 6 1/4 at midday, with Dec futures, expiring on Friday, showing a 7 1/2 midday move. The USDA announced private export sales of 110,744 MT of corn to unknown for 19/20 and 1.6 MMT of corn to Mexico this morning (1.074 MMT for 19/20 delivery and 525k MT for 20/21 delivery). That’s the 5th largest daily sale of corn on record. Export bookings for the week ending 12/05 were above what traders had anticipated with the USDA reporting 873,525. Shipments through the same week were at 531,371 MT, which was 7.4% above last week, but still 44.19% below the same week last year. For reference, last week was 57.58% behind it’s respected week a year ago. Accumulated shipments were listed at 6.876 MMT through the first 14 weeks of the MY.

Dec 19 Corn is at $3.65 1/4, up 7 1/2 cents,

Mar 20 Corn is at $3.77 1/2, up 6 1/4 cents,

May 20 Corn is at $3.84 1/4, up 6 1/4 cents,

Jul 20 Corn is at $3.90, up 6 1/4 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
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

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.