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




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