Bearish Prices for Corn

Corn futures closed Friday fractionally lower to 1 1/2 cents lower in the front month as losses deepened through the contracts. That closed helped to cement a wk/wk loss, which was 2 1/2 cents. December options expire today. Total export commitments for corn are slowly whittling away on this time last year, now lagging by 45.4% from the same week in 2018. They are just 28% of the USDA export projection, with the average pace at 43% for this week. CFTC reported that as of Tuesday manage money was net short 123,530 contracts, a position which grew by 12,609 positions to the deepest short position since the beginning of October.

Dec 19 Corn closed at $3.68 3/4, up 1/4 cent,

Mar 20 Corn closed at $3.78 1/2, down 1/2 cent,

May 20 Corn closed at $3.83 3/4, down 1/2 cent,

Jul 20 Corn closed at $3.88 3/4, down 1 1/4 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

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.