AgriCharts Market Commentary

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Corn Market Commentary

October 19, 2018

Corn futures are hovering around UNCH this morning. They saw losses of 2 to 3 1/2 cents in most contracts on Thursday, pressured by a disappointing export sales number. The USDA Export Sales report was disappointing at just 382,534 MT. That was a drop of 62% from the previous week and 69.52% lower than the same time last year. Export shipments in that week totaled 1.1 MMT, more than triple this time last year but down 31.4% wk/wk. For perspective, corn export commitments are 41% larger than last year at this time, with unshipped sales 27% larger despite the down week.

--provided by Brugler Marketing & Management, (402) 289-2330

Corn Market Commentary

October 18, 2018

Corn futures saw losses of 2 to 3 1/2 cents in most contracts on Thursday, pressured by a disappointing export sales number. This morning’s USDA Export Sales report indicated that 18/19 sales in the week of 10/11 totaled just 382,534 MT. That was a drop of 62% from the week prior and 69.52% lower than the same time last year. There were net reductions of 326,500 MT for unknown destinations, with most of that being switched to defined locations. Export shipments in that week totaled 1.1 MMT, more than triple this time last year but down 31.4% wk/wk. There was 452,100 MT headed to Mexico. An auction of Chinese state reserves saw 3.221 MMT of corn sold, with was 81.12% of the total.

Dec 18 Corn closed at $3.70 3/4, down 3 1/2 cents,

Mar 19 Corn closed at $3.83, down 3 1/2 cents,

May 19 Corn closed at $3.90 1/4, down 3 1/4 cents

Jul 19 Corn closed at $3.95 3/4, down 2 3/4 cents

--Call Brugler Marketing & Management @ (402) 289-2330 with questions or news tips.

Corn Market Commentary

October 18, 2018

Corn futures are trading 3 to 4 cents lower at the moment, pressured by a disappointing export sales number. This morning’s Export Sales report indicated that 18/19 sales in the week of 10/11 totaled just half of the lower end of estimates at 382,534 MT. That was a drop of 62% from the week prior and 69.52% lower than the same time last year. There were net reductions that totaled 326,500 MT for unknown, with most of that being switched. An auction of Chinese state reserves saw 3.221 MMT of corn sold, with was 81.12% of the total.

Dec 18 Corn is at $3.70 1/4, down 4 cents,

Mar 19 Corn is at $3.82 1/4, down 4 1/4 cents,

May 19 Corn is at $3.89 1/2, down 4 cents

Jul 19 Corn is at $3.95, down 3 1/2 cents

--Call Brugler Marketing & Management @ (402) 289-2330 with questions or news tips.

Corn Market Commentary

October 18, 2018

Corn futures are currently 1 to 2 cents lower after settling 3/4 to 1 cent lower on Wednesday. Drier weather in the western Corn Belt is allowing harvest activity to pick up. The weekly EIA report indicated reduced corn consumption, with ethanol production for the week of 10/12 averaging 1.011 million barrels per day. That was down 29,000 bpd from the week prior and the lowest output since mid-April. Ethanol stocks were up another 109,000 barrels to 24.130 million barrels despite the reduced production. EPA also indicated that the E15 plan won’t be available for comment until February. Trade ideas for this morning’s USDA Export Sales report are in the 800,000 to 1.3 MMT range.

Corn Market Commentary

October 17, 2018

Corn futures settled 3/4 to 1 cent lower on Wednesday. Drier weather in the western Corn Belt is allowing harvest activity to pick up. The weekly EIA report indicated reduced corn consumption, with ethanol production for the week of 10/12 averaging 1.011 million barrels per day. That was down 29,000 bpd from the week prior and the lowest output since mid-April. Ethanol stocks were up another 109,000 barrels to 24.130 million barrels despite the reduced production, with the Rockies and Gulf the only regions to show reductions to stocks. EPA also indicated that the E15 plan won’t be available for comment until February, which would in our opinion delay implementation until May or later because of the Federal Register procedures. Thursday’s Export Sales report is expected to show 0.8-1.3 MMT in 18/19 corn sales for the week of 10/11 according to wire surveys.

Dec 18 Corn closed at $3.74 1/4, down 1 cent,

Mar 19 Corn closed at $3.86 1/2, down 3/4 cent,

May 19 Corn closed at $3.93 1/2, down 3/4 cent

Jul 19 Corn closed at $3.98 1/2, down 3/4 cent

--provided by Brugler Marketing & Management (402) 289-2330


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