AgriCharts Market Commentary

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Corn

October 20, 2017

Corn futures ended Friday with most contracts 3 1/2 to 4 1/2 cents lower. The USDA announced private export sales of 125,000 MT of corn to Unknown Destinations, with an additional 120,000 MT to Spain for 17/18 delivery through their daily reporting system. The CFTC Commitment of Traders report showed spec traders adding another 7,747 contracts to their net short position during the week that ended 10/17. Their net position on that date totaled -170,684 contracts in corn futures and options. The Buenos Aires Grain Exchange sees planting progress at 27.7% complete, 5% above this time last year. Acreage intentions are larger. On Friday, China sold 1.95 MMT of the total 3.767 MMT offered at an auction of state reserves.

Dec 17 Corn closed at $3.44 1/2, down 4 1/2 cents,

Mar 18 Corn closed at $3.58 1/2, down 4 1/4 cents,

May 18 Corn closed at $3.67 1/4, down 4 cents

Jul 18 Corn closed at $3.74 3/4, down 3 1/2 cents

Corn

October 20, 2017

Corn futures are trading 2 3/4 to 3 3/4 cents lower on Friday. The USDA announced private export sales of 125,000 MT of corn to Unknown Destinations, with an additional 120,000 MT to Spain for 17/18 delivery through their daily reporting system. Total export commitments gained on last year, but are still 30.49% lower than the same time last year. They are 32% of the USDA export projection for the 17/18 marketing year, compared to the average of 37% and last year’s 41%. The Buenos Aires Grain Exchange sees planting progress at 27.7% complete, 5% above this time last year. Acreage intentions are larger. On Friday, China sold 1.95 MMT of the total 3.767 MMT offered at an auction of state reserves.

Dec 17 Corn is at $3.45 1/4, down 3 3/4 cents,

Mar 18 Corn is at $3.59 1/4, down 3 1/2 cents,

May 18 Corn is at $3.68, down 3 1/4 cents

Jul 18 Corn is at $3.75 1/2, down 2 3/4 cents

Corn

October 20, 2017

Corn futures are currently steady to 1 cent higher after settling fractionally to 2 3/4 cents higher on Thursday. The USDA reported weekly shipments dropped 50% from last week and 72.93% from a year ago at 339,252 MT. Total export commitments gained on last year, as they are now 30.49% lower than the same time last year. They are 32% of the USDA export projection for the 17/18 marketing year. Informa updated their 2018 US acreage estimates to 90.46 million acres for corn, down 1.42 million acres from their September estimate. China sold 782,089 MT of the 1.116 MMT offered at an auction of state reserves on Thursday.

Corn

October 19, 2017

Corn futures settled the Thursday session with most contracts fractionally to 2 3/4 cents higher. The USDA reported 1.255 MMT of 17/18 corn sold for export during the week of October 12, exceeding most trade expectations. That was down 21.23% from last week but 43.67% larger than the same week in 2016. Mexico purchased 510,100 MT, with 233,800 MT bought for Japan. There was another 15,000 MT sold for 18/19 delivery. Weekly shipments dropped 50% from last week and 72.93% from a year ago at 339,252 MT. Informa updated their 2018 US acreage estimates to 90.46 million acres for corn, down 1.42 million acres from their September estimate. China sold 782,089 MT of the 1.116 MMT offered at an auction of state reserves on Thursday.

Dec 17 Corn closed at $3.49, up 1/2 cent,

Mar 18 Corn closed at $3.62 3/4, up 1/2 cent,

May 18 Corn closed at $3.71 1/4, up 1/2 cent

Jul 18 Corn closed at $3.78 1/4, up 1/2 cent

Corn

October 19, 2017

Corn futures are currently 1 1/4 cents higher in most front months at midday. The USDA reported 1.255 MMT of 17/18 corn sold for export during the week of October 12, exceeding most trade expectations. That was down 21.23% from last week but 43.67% larger than the same week in 2016. Mexico purchased 510,100 MT, with 233,800 MT bought for Japan. There was another 15,000 MT sold for 18/19 delivery. Informa updated their 2018 US acreage estimates to 90.5 million acres for corn, down 1.38 million acres from their September estimate. China sold 782,089 MT of the 1.116 MMT offered at an auction of state reserves on Thursday.

Dec 17 Corn is at $3.49 3/4, up 1 1/4 cents,

Mar 18 Corn is at $3.63 1/2, up 1 1/4 cents,

May 18 Corn is at $3.72, up 1 1/4 cents

Jul 18 Corn is at $3.79, up 1 1/4 cents


Market Commentary provided by:

Brugler Marketing & Management LLC
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Phone: 402-697-3623
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