AgriCharts Market Commentary

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Corn Market Fractionally Higher on Better Exports

April 18, 2019

Corn futures closed 3/4 lower to 1/2 cent higher, with the nearby contracts the firmest. USDA’s weekly Export Sales report showed sharply higher sales of 947,600 MT for old crop in the week ending April 11. New crop bookings were 18,400 MT. Trade ideas for this morning’s report had been running 500-850,000 MT for old crop. Monthly trade data from Census shows corn exports during February down 4.03% from last year at 3.617 MMT. Feb DDG exports totaled 686,005 MT, which was a 5-year low on lower production. Ethanol shipments were reported at 113.82 million gallons. The market will be closed on Good Friday.

May 19 Corn closed at $3.58 1/2, up 1/4 cent,

Jul 19 Corn closed at $3.67 1/4, up 1/4 cent,

Sep 19 Corn closed at $3.75, unch,

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

--provided by Brugler Marketing & Management

Corn Market Hovers Around UNCH

April 18, 2019

Corn futures are fractionally lower at midday on scattered reports of planting activity and a warmer forecast for next week. USDA’s weekly Export Sales report showed sharply higher sales of 947,600 MT for old crop in the week ending April 11. New crop bookings were 18,400 MT. Trade ideas for this morning’s report had been running 500-850,000 MT for old crop and 0 to 100,000 MT for new crop. Monthly trade data from Census shows corn exports during February down 4.03% from last year at 3.617 MMT. Feb DDG exports totaled 686,005 MT, which was a 5-year low on lower production. Ethanol shipments were reported at 113.82 million gallons. The market will be closed on Good Friday.

May 19 Corn is at $3.57 1/2, down 3/4 cent,

Jul 19 Corn is at $3.66 1/4, down 3/4 cent,

Sep 19 Corn is at $3.74 1/4, down 3/4 cent

Dec 19 Corn is at $3.85 1/2, down 1 1/4 cents

--provided by Brugler Marketing & Management

Corn Futures Range Bound Ahead of Export Sales

April 18, 2019

Corn futures are trading steady to a penny higher this morning. They were down 1/2 to 1 cent per bushel on Wednesday. The weekly EIA report showed ethanol stocks dropped 517,000 barrels last week to 22.676 million barrels, the lowest inventory since September. Monthly trade data from Census shows corn exports during February down 4.03% from last year at 3.617 MMT. Feb DDG exports totaled 686,005 MT, which was a 5-year low on lower production. Ethanol shipments were reported at 113.82 million gallons. Trade ideas for this morning’s USDA weekly Export Sales report are running 500-850,000 MT for old crop and 0 to 100,000 MT for new crop. The market will be closed on Good Friday.

--provided by Brugler Marketing & Management

Corn Futures Drift Lower Awaiting Export Sales Data

April 17, 2019

Corn futures were down 1/2 to 1 cent per bushel on Wednesday. The weekly EIA report showed ethanol production for the week of 4/12 up 14,000 barrels per day to 1.016 million bpd. Ethanol stocks dropped 517,000 barrels last week to 22.676 million barrels, the lowest inventory since September. Monthly trade data from Census shows corn exports during February down 4.03% from last year at 3.617 MMT, which was a drop of 22.48% from January. Feb DDG exports totaled 686,005 MT, which was a 5-year low on lower production. Ethanol shipments were reported at 113.82 million gallons. Trade ideas for Thursday’s USDA weekly Export Sales report are running 500-850,000 MT for old crop and 0 to 100,000 MT for new crop.

May 19 Corn closed at $3.58 1/4, down 3/4 cent,

Jul 19 Corn closed at $3.67, down 3/4 cent,

Sep 19 Corn closed at $3.75, down 1 cent

Dec 19 Corn closed at $3.86 3/4, down 3/4 cent

--provided by Brugler Marketing & Management

Corn Shrugs off Decent Ethanol Data

April 17, 2019

Corn futures are trading 1 to 2 cents lower in most contracts on Wednesday. The weekly EIA report showed ethanol production for the week of 4/12 up 14,000 barrels per day to 1.016 million bpd. Stocks took another encouraging drop to the lowest point since September, down 517,000 barrels to 22.676 million barrels. Monthly trade data from Census shows corn exports during February down 4.03% from last year at 3.617 MMT, which was a drop of 22.48% from January. Feb DDG exports totaled 686,005 MT, which was a 5-year low on lower production. Ethanol shipments were reported at 113.82 million gallons. At least one weather forecaster is now declaring the Brazilian double crop yield ‘made’ given expectations for rains between now and May 2. Private forecaster Celeres estimates the crop at 97.9 MMT.

May 19 Corn is at $3.57 1/4, down 1 3/4 cents,

Jul 19 Corn is at $3.66, down 1 3/4 cents,

Sep 19 Corn is at $3.74, down 2 cents

Dec 19 Corn is at $3.85 1/2, down 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