AgriCharts Market Commentary

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Corn Closes Lower on Tuesday

August 20, 2019

Corn futures ended trading down 5 1/2 to 5 3/4 cents in the front months, as additional rainfall either fell or was predicted for many of the dry pockets in the Corn Belt. Later in the day, Poet Biofuels announced the idling of their Cloverdale plant indefinitely, citing recent EPA small refinery waivers. They also announced half of the Poet plants will run at reduced production. The ProFarmer Midwest Crop Tour is on its second day of yield checks in parts of NE and IN/IL today. Day one results showed SD and OH both below the 3-year average. Monday’s Crop Progress report showed condition ratings on the Brugler500 Index rising in IL (+6), IN (+2) and ND (+6). They were down 2 points in IA and 7 points lower in MO, with NE and MN deteriorating 3 points.

SEP 19 Corn closed at $3.59 1/2, down 5 1/2 cents,

DEC 19 Corn closed at $3.68 3/4, down 5 3/4 cents,

MAR 20 Corn closed at $3.81 1/4, down 5 3/4 cents

MAY 20 Corn closed at $3.88 3/4, down 5 1/2 cents

--- provided by Brugler Marketing & Management


Corn Loses Early Gains

August 20, 2019

Corn futures are 3 3/4 to 4 1/2 cents lower in midday trading, giving back early gains as additional rainfall either fell or was predicted for many of the dry pockets in the Corn Belt. The weekly Crop Progress report indicated that 55% of the US corn crop was in the dough stage (76% avg), with 15% dented (30% avg) as of Sunday. Condition ratings slipped 1% to 57 % gd/ex, with the Brugler500 Index down 2 points to 349. The ProFarmer Midwest Crop Tour is on its second day of yield checks. Day one averages in Ohio average were 154.35 bpa, well below the 179.5 bpa from last year and 164.4 bpa average. South Dakota average was 154.1 bpa and down 13% from the tour average last year.

SEP 19 Corn is at $3.61, down 4 cents,

DEC 19 Corn is at $3.70, down 4 1/2 cents,

MAR 20 Corn is at $3.82 3/4, down 4 1/4 cents

MAY 20 Corn is at $3.90 1/2, down 3 3/4 cents

--- provided by Brugler Marketing & Management

Corn Market Rebounds 4 to 5 Cents

August 20, 2019

Corn futures are 4 to 5 cents higher to start Turnaround Tuesday trading. The weekly Crop Progress report indicated that 55% of the US corn crop was in the dough stage (76% avg), with 15% dented (30% avg) as of Sunday. Condition ratings slipped 1% to 57 % gd/ex, with the Brugler500 Index down 2 points to 349. The ProFarmer Midwest Crop Tour is underway on both the western and eastern ends of the Corn Belt. The Ohio average was 154.35 bpa, and down the same 14% as USDA. South Dakota average was 154.1 bpa and down 13% from the tour average last year. USDA Export Inspections data showed 510,334 MT of corn shipped in the week that ended on August 15. That was down 30% from the week prior and roughly half of the same week last year. Sorghum shipments to China totaled 50,002 MT.

--- provided by Brugler Marketing & Management

Corn Closes the Day Lower

August 19, 2019

Corn futures were down 5 3/4 to 6 1/4 cents on Monday as rains rolled across most of the Corn Belt over the weekend. The weekly Crop Progress report indicated that 55% of the US corn crop was in the dough stage (76% avg), with 15% dented (30% avg) as of Sunday. Condition ratings slipped 1% to 57 % gd/ex, with the Brugler500 Index down 2 points to 349. The ProFarmer Midwest Crop Tour is underway on both the western and eastern ends of the Corn Belt. Day one results from parts of IN, OH, SD and NE should be out later this evening. USDA Export Inspections data showed 510,334 MT of corn shipped in the week that ended on August 15. That was down 30% from the week prior and roughly half of the same week last year. Sorghum shipments to China totaled 50,002 MT.

SEP 19 Corn closed at $3.65, down 6 cents,

DEC 19 Corn closed at $3.74 1/2, down 6 1/4 cents,

MAR 20 Corn closed at $3.87, down 5 3/4 cents

MAY 20 Corn closed at $3.94 1/4, down 5 3/4 cents

--- provided by Brugler Marketing & Management


Corn Lower as Rains Roll Across the Corn Belt

August 19, 2019

Corn futures are down 5 to 6 1/2 cents as rains rolled across most of the Corn Belt over the weekend. The ProFarmer Midwest Crop Tour is underway on both the western and eastern ends of the Corn Belt. USDA Export Inspections data showed 510,334 MT of corn shipped in the week that ended on August 15. That was down 30% from the week prior and roughly half of the same week last year. Mexico was the largest customer with 270,153 MT. Sorghum shipments to China totaled 50,002 MT. Friday afternoon’s Commitment of Traders report indicated spec funds holding a net long position of 44,513 contracts in corn futures and options, a reduction of 45% from last week but larger than expected.

SEP 19 Corn is at $3.64 3/4, down 6 1/4 cents,

DEC 19 Corn is at $3.74 1/4, down 6 1/2 cents,

MAR 20 Corn is at $3.86 3/4, down 6 cents

MAY 20 Corn is at $3.94 1/2, down 5 1/2 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
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com