AgriCharts Market Commentary

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Corn Posts Losses on Turnaround Tuesday

Corn futures ended Turnaround Tuesday with most nearby contracts 6 to 7 cents lower. There are very few threats of frost in the forecasts to the first of Oct, as the 8-14 day outlook shows above normal temps for most of the US outside the PNW. This will help to push the delayed crops along into maturity. Conditions ratings reported on Monday showed IL up 8 points on the Brugler500 index, with IA up 6and MO 2 points higher. Ratings in NE dropped 1 point, with MN down 6 points and IN 4 points lower. Wire reports suggest China’s 2020 ethanol mandate could be pared back due to decreasing corn stocks, while stockpiles in state reserves have dropped to 56 MMT.

DEC 19 Corn closed at $3.68, down 6 cents,

MAR 19 Corn closed at $3.80, down 6 cents,

MAY 20 Corn closed at $3.88 1/4, down 6 1/4 cents

JUL 20 Corn closed at $3.95, down 6 1/4 cents

-- provided by Brugler Marketing & Management

Corn Lower on Turnaround Tuesday

Corn futures are down 5 to 6 cents in most contracts on Tuesday. There are very few threats of frost in the forecasts to the first of Oct, as the 8-14 day outlook shows above normal temps for most of the US outside the PNW. The Monday afternoon Crop Progress report indicated 68% of the US corn crop was dented as of Sunday, with 18% mature (vs. 39% avg), and 4% harvested (7% avg). Conditions were unch at 55% gd/ex, as the Brugler500 index saw a 1 point bump to 348 on a 1% move from good to excellent. Wire reports suggest China’s 2020 ethanol mandate could be pared back due to decreasing corn stocks, while stockpiles in state reserves have dropped to 56 MMT.

DEC 19 Corn is at $3.68, down 6 cents,

MAR 19 Corn is at $3.80 1/2, down 5 1/2 cents,

MAY 20 Corn is at $3.89, down 5 1/2 cents

JUL 20 Corn is at $3.96, down 5 1/4 cents

-- provided by Brugler Marketing & Management

Corn Market 3 to 4 Lower

Corn futures are trading 3 to 4 cents lower this morning. They saw 4 to 5 1/4 cent gains in most contracts on Monday. Front month ethanol futures were up 1.11% on the day, helped by sharp gains in crude oil and a 20 cent per gallon jump in gasoline futures. The afternoon Crop Progress report indicated 68% of the US corn crop was dented as of Sunday, with 18% mature (vs. 39% avg), and 4% harvested (7% avg). Conditions were unch at 55% gd/ex, as the Brugler500 index saw a 1 point bump to 348 on a 1% move from good to excellent. The weekly Export Inspections report tallied corn shipments in the first full week of the 19/20 MT at 421,803 MT. That was down 31.09% from the week prior and less than half of the same week in 2018.

-- provided by Brugler Marketing & Management

Corn Closes Higher to Start the Week

Corn futures saw 4 to 5 1/4 cent gains in most contracts on Monday. Front month ethanol futures were up 1.11% on the day, helped by sharp gains in crude oil and a 20 cent per gallon jump in gasoline futures. The afternoon Crop Progress report indicated 68% of the US corn crop in dented as of Sunday, with 18% mature (39% avg), and 4% listed as harvested (7% avg). Conditions were unch at 55% gd/ex, as the Brugler500 index saw a 1 point bump to 348 on a 1% move from good to excellent. The weekly Export Inspections report tallied corn shipments in the first full week of the 19/20 MT at 421,803 MT. That was down 31.09% from the week prior and less than half of the same week in 2018.

DEC 19 Corn closed at $3.74, up 5 1/4 cents,

MAR 19 Corn closed at $3.86, up 4 1/2 cents,

MAY 20 Corn closed at $3.94 1/2, up 4 cents

JUL 20 Corn closed at $4.01 1/4, up 4 1/4 cents

-- provided by Brugler Marketing & Management

Corn Higher at Midday

Corn futures are trading 3 to 4 cents higher in most contracts on Monday. Front month ethanol futures are up 1.5% at midday, helped by sharp gains in crude oil. The weekly Export Inspections report tallied corn shipments in the first full week of the 19/20 MT at 421,803 MT. That was down 31.09% from the week prior and less than half of the same week in 2018. Traders expect to see a 1-2% drop in corn condition ratings in this afternoon’s Crop Progress report. Friday’s Commitment of Traders report showed money managers in corn futures and options increasing their net short position by 17,028 contracts to -136,399 contracts as of Tuesday.

DEC 19 Corn is at $3.72 3/4, up 4 cents,

MAR 19 Corn is at $3.84 3/4, up 3 1/4 cents,

MAY 20 Corn is at $3.93 1/2, up 3 cents

JUL 20 Corn is at $4.00, up 3 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