Corn in Deliveries Gained Double Digits

Corn climbed 5 3/4 to 6 cents on Thursday, but Dec futures were plus 10 3/4 at midday, The USDA announced private export sales of 110,744 MT of corn to unknown for 19/20 and 1.6 MMT (63 million bushels) of corn to Mexico this morning (1.074 MMT for 19/20 delivery and 525k MT for 20/21 delivery). Export bookings for the week ending 12/05 were above what traders had anticipated with the USDA reporting 873,525 MT. Shipments through the same week were 531,371 MT, which was 7.4% above Thanksgiving week, but still 44.19% below the same week last year. Accumulated shipments hit 6.876 MMT through the first 14 weeks of the MY.Ethanol production has averaged 1.008m bpd over the previous 10 weeks, but the new (including this recent data) 10-week average has increased by 12k barrels per day. Ethanol Stocks increased by the most in one week since June 28.

Dec 19 Corn closed at $3.68 1/2, up 10 3/4 cents,

Mar 20 Corn closed at $3.77, up 5 3/4 cents,

May 20 Corn closed at $3.83 3/4, up 5 3/4 cents,

Jul 20 Corn closed at $3.89 3/4, up 6 cents,

---provided by Brugler Marketing & Management

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