Corn Lower after Wednesday

Corn futures closed 2 1/2 cents to 3 cents lower after Wednesday’s round of trading. Brazil’s CONAB slightly lowered their 19/20 corn production forecast, down 30,000 MT to 98.37 MMT. The Nov WASDE projects 101 MMT of Brazilian corn. CONAB corn exports for the 19/20 MY remained UNCH at 34 MMT, which was down from the 18/19 record of 39 MMT corn exports but more bearish than the trade had hoped. The weekly EIA report will come out tomorrow, following the Veteran’s Day break.

Dec 19 Corn closed at $3.75 1/4, down 2 1/2 cents,

Mar 20 Corn closed at $3.84, down 2 1/2 cents,

May 20 Corn closed at $3.89 3/4, down 3 cents,

Jul 20 Corn closed at $3.95 3/4, down 3 cents,

---provided by Brugler Marketing & Management




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