Corn Fractionally Higher at Midday

So far corn futures are higher by 1/2 a cent in the front months, with expiring Dec up 5 cents. They were as much as 7 cents higher earlier in the session. US and China have agreed to a Phase One deal, with the Chinese willing to include increased imports of US corn as part of the deal. Export commitments of corn are now 44% behind the same week last year, the smallest that gap has been since the beginning of the MY. Compared to the USDA projection, which was left unch on Tuesday, combined shipped and unshipped sales are 33% complete vs. the 50% average. Exports are 15% of that 1.85 bbu, behind the 22% normal pace but matching 2 of the previous 4 years.

Dec 19 Corn is at $3.72, up 5 cents,

Mar 20 Corn is at $3.78 1/4, up 1/2 cent,

May 20 Corn is at $3.84 3/4, up 1/2 cent,

Jul 20 Corn is at $3.90 1/2, up 1/2 cent,

--- provided by Brugler Marketing & Management

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