Corn Futures Lower so far for Friday

Corn futures are 3 1/2 cents to 4 cents lower at midday. The one day delayed weekly export sales update showed corn export sales were 19.2% higher wk/wk as of 11/07. The 581,568 MT of sales, however, were only 65.16% of the same week last year. The USDA also reported weekly exports for the week ending 11/07, showing that 602,235 MT, or 23.71 mbu, were shipped for the week. That is 89.5% higher wk/wk, but still well below the same week last year. Corn accumulated shipments are up to 178.78 mbu, 61.23% below last year’s pace. EIA weekly ethanol production averaged 1.03 million barrels per day with stocks at 20.985 million barrels. Strategie Grains cut their 19/20 EU maize crop estimate 100,000 MT to 63.5 MMT, despite an increase in French production.

DEC 19 Corn is at $3.71 3/4, down 4 cents,

MAR 19 Corn is at $3.81 1/4, down 3 1/2 cents,

MAY 20 Corn is at $3.87, down 3 3/4 cents

JUL 20 Corn is at $3.92 3/4, down 3 3/4 cents

---provided by Brugler Marketing & Management




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