AgriCharts Market Commentary

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Corn Market News and Commentary

Corn futures saw 1 to 2 cent gains in most contracts on Friday, with May up 1.34% this week. A private export sale of 300,000 MT of corn for 2018/19 delivery to China was announced by the USDA this morning. Friday afternoon’s Commitment of Traders report indicated that spec traders in corn futures and options extended their record reported net short position for the week that ended on 3/19 to 261,326 contracts. An updated Farm Futures survey released this morning indicated 90.9 million planted corn acres for 2019. A Reuters report estimates ~13% of the US ethanol capacity is offline at the moment due to the recent flooding and both bridge and rail damage. Total export commitments for corn are 7.4% below this time last year. They are 69% of the USDA projected full year amount vs. the average of 78% for this date.

May 19 Corn closed at $3.78 1/4, up 2 cents,

Jul 19 Corn closed at $3.87 1/2, up 2 cents,

Sep 19 Corn closed at $3.93 1/4, up 1 1/2 cents

Dec 19 Corn closed at $4.00, up 1 1/4 cents

--provided by Brugler Marketing & Management

Corn Market News and Commentary

Corn futures are trading 1 to 2 cents higher in the front months on Friday. A private export sale of 300,000 MT of corn for 2018/19 delivery to China was announced by the USDA this morning. An updated Farm Futures survey released this morning indicated 90.9 million planted corn acres for 2019. A Reuters report estimates ~13% of the US ethanol capacity is offline at the moment due to the recent flooding and both bridge and rail damage. Total export commitments for corn are 7.4% below this time last year. They are 69% of the USDA projected full year amount vs. the average of 78% for this date.

May 19 Corn is at $3.78 1/4, up 2 cents,

Jul 19 Corn is at $3.87, up 1 1/2 cents,

Sep 19 Corn is at $3.93, up 1 1/4 cents

Dec 19 Corn is at $4.00, up 1 1/4 cents

--provided by Brugler Marketing & Management

Corn Market News and Commentary

Corn futures are trading 1 to 3 cents higher this morning. They ended the Thursday session with most contracts 2 to 4 3/4 cents higher. Numerous on farm bins and some commercial ground piles have been flooded in the Midwest. NASS is unlikely to be able to quantify such losses until the June stocks report. Forecasts are showing more moisture in some already flooded areas in the coming weeks, fueling ideas of more prevent plant acres. The USDA Export Sales report indicated that 855,944 MT of old crop corn was booked in the week of 3/14, with 60,000 MT for new crop. Combined sales were down 37.08% from the same week a year ago.

--provided by Brugler Marketing & Management

Corn Market News and Commentary

Corn futures ended the Thursday session with most contracts 2 to 4 3/4 cents higher. Corn in flooded grain bins is considered contaminated and cannot be sold commercially. Numerous on farm bins and some commercial ground piles have been flooded. NASS is unlikely to be able to quantify such losses until the June stocks report. Forecasts are showing moisture among already flooded areas in the coming weeks, furthering the ideas of prevent plant acres. This morning’s USDA Export Sales report indicated that 855,944 MT of old crop corn was booked in the week of 3/14, with 60,000 MT for new crop. Combined sales were down 37.08% from the same week a year ago. Japan was the main purchaser of 406,800 MT for combined old and new crop.

May 19 Corn closed at $3.76 1/4, up 4 3/4 cents,

Jul 19 Corn closed at $3.85 1/2, up 4 1/2 cents,

Sep 19 Corn closed at $3.91 3/4, up 3 3/4 cents

Dec 19 Corn closed at $3.98 3/4, up 3 1/4 cents

--provided by Brugler Marketing & Management

Corn Market News and Commentary

Corn futures are showing 3 to 5 1/2 cent gains in most contracts on Thursday. Corn in flooded grain bins is considered contaminated and cannot be sold commercially. NASS is unlikely to be able to quantify such losses until the June stocks report. Forecasts are showing moisture in the coming weeks, furthering the ideas of prevent plant acres. This morning’s USDA Export Sales report indicated that 855,944 MT of old crop corn was booked in the week of 3/14, with 60,000 MT for new crop. Combined sales were down 37.08% from the same week a year ago. Japan was the main purchaser of 406,800 MT for combined old and new crop.

May 19 Corn is at $3.77, up 5 1/2 cents,

Jul 19 Corn is at $3.86, up 5 cents,

Sep 19 Corn is at $3.92, up 4 cents

Dec 19 Corn is at $3.99, up 3 1/2 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