Corn Starting Week off with Losses

Corn futures are dropping lower so far, down by as much as 4 cents for nearby contracts. Trade ideas for US corn harvest are running 65-66% completed. USDA won’t release those numbers until Tuesday because of the Veteran’s Day holiday. The NASS Crop Production report from Friday showed 2019 corn yield at 167 bpa, pushing production down to 13.661 billion bushels. Expected US ending stocks were cut to 1.910 bbu. Exports, feed use and ethanol use were all reduced and offset most of the production cut. USDA bumped up the expected average cash corn price to $3.85. The world corn carryout was cut to 295.96 MMT. The Commitment of Traders report on Friday afternoon showed that managed money spec funds were still increasing their net short for Corn futures, growing that position to 104,846 contracts as of November 5.

DEC 19 Corn is at $3.74 1/4, down 3 cents,

MAR 19 Corn is at $3.83 1/4, down 3 1/4 cents,

MAY 20 Corn is at $3.89 3/4, down 3 3/4 cents

JUL 20 Corn is at $3.95 3/4, down 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.