Corn Futures Fall Late

Corn futures were lower at the close after fractional midday gains. Futures settled with losses of 1 3/4 to 3 1/4 cents in the front months on Thursday. USDA weekly corn export sales were reported at 546,115 MT for the week ending 11/28. That was at the bottom of expectations and 53.62% below last year. Weekly shipments were at 494,779 MT, which was a 140,555 MT reduction from last week. Accumulated exports have increased to 6.344 MMT as of the weekly report. Census data for monthly corn exports showed that October corn shipments were 90.7 mbu, a 59.27% decrease from last October and up 13.59% from September. Ethanol monthly exports were at 112.822 million gallons, which was 65.89% of last October’s record. Due to the low ethanol production, DDG exports were at just 759,979 MT.

DEC 19 Corn closed at $3.65 1/2, down 3 1/4 cents,

MAR 19 Corn closed at $3.76 3/4, down 1 3/4 cents,

MAY 20 Corn closed at $3.82 1/2, down 2 cents

JUL 20 Corn closed at $3.87, down 2 1/4 cents

---provided by Brugler Marketing & Management

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