AgriCharts Market Commentary

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Corn Market News and Commentary

Corn futures saw most contracts steady to 2 cents higher on Friday. March futures were up 0.93% on the week that saw a couple sizable swings. Higher ethanol prices supported the market on Friday. The government shutdown is now in day 28, as the CFTC Commitment of Traders report will not be release until funding is restored. The markets will be closed on Monday for Martin Luther King Jr. Day. Brazil’s first corn crop harvest is estimated at 1% complete according to AgRural.

Mar 19 Corn closed at $3.81 3/4, up 1 3/4 cents,

May 19 Corn closed at $3.90, up 2 cents,

Jul 19 Corn closed at $3.97 1/4, up 1 3/4 cents

Sep 19 Corn closed at $3.99 3/4, up 1 1/4 cents

--provided by Brugler Marketing & Management

Corn Market News and Commentary

Corn futures are showing fractional to 1 cent gains in most contracts on Friday. Higher ethanol prices at midday are supporting the market. The markets will be closed on Monday for Martin Luther King Jr. Day, as the government shutdown is now in day 28. The BAGE indicated that 86.1% of Argentina’s corn crop is planted, behind the 91.2% average. Conditions of the emerged crop are 55.3% gd/ex, which is well above the same time last year. Brazil’s first corn crop harvest is estimated at 1% complete according to AgRural.

Mar 19 Corn is at $3.80 3/4, up 3/4 cent,

May 19 Corn is at $3.89, up 1 cent,

Jul 19 Corn is at $3.96 1/2, up 1 cent

Sep 19 Corn is at $3.99, up 1/2 cent

--provided by Brugler Marketing & Management

Corn Market News and Commentary

Corn futures are currently 1 cent per bushel higher after posting 4 to 6 cent gains in the nearby contracts on Thursday. The buying was short covering, with preliminary open interest dropping 6,689 contracts. DTN’s national corn index was at $3.42 on Wednesday evening, 22 1/4 cents above last year. That put national basis at -32 cents, just 1/4 cent weaker than the same time in 2018. Export demand has been better this MY, but weaker ethanol margins have a negative impact on local basis. South Korean feed importers purchased another 129,000 MT of optional origin corn in separate private purchases on Thursday. The BAGE indicated that 86.1% of Argentina’s corn crop is planted, behind the 91.2% average. Conditions of the emerged crop are 55.3% gd/ex, which is well above the same time last year.

--provided by Brugler Marketing & Management

Corn Market News and Commentary

Corn futures posted 4 to 6 cent gains in the nearby contracts on Thursday. DTN’s national corn index was at $3.42 on Wednesday evening, 22 1/4 cents above last year. That put national basis at -32 cents, just 1/4 cent weaker than the same time in 2018. Export demand has been better this MY, but weaker ethanol margins have a negative impact on basis. South Korean feed importers purchased another 129,000 MT of optional origin corn in separate private purchases on Thursday. BAGE indicated that 86.1% of Argentina’s corn crop is planted, behind the 91.2% average. Conditions of the emerged crop are 55.3% gd/ex, which is well above the same time last year.

Mar 19 Corn closed at $3.80, up 6 cents,

May 19 Corn closed at $3.88, up 5 3/4 cents,

Jul 19 Corn closed at $3.95 1/2, up 5 1/2 cents

Sep 19 Corn closed at $3.98 1/2, up 4 3/4 cents

--provided by Brugler Marketing & Management

Corn Market News and Commentary

Corn futures are trading 4 to 5 3/4 cents higher in the nearby contracts on Thursday. DTN’s national corn index was at $3.42 on Wednesday evening, 22 1/4 cents above last year. That put national basis at -32 cents, just 1/4 cent weaker than the same time in 2018. Export demand has been better this MY, but weaker ethanol margins have a negative impact on basis. South Korean feed importers purchased another 129,000 MT of optional origin corn in separate private purchases on Thursday. Chinese officials noted stronger than expected government auction sales in 2018 and suggested that the oldest corn in their inventory would all be gone by the end of 2019.

Mar 19 Corn is at $3.79 3/4, up 5 3/4 cents,

May 19 Corn is at $3.87 3/4, up 5 1/2 cents,

Jul 19 Corn is at $3.95 1/4, up 5 1/4 cents

Sep 19 Corn is at $3.98 1/2, up 4 3/4 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