AgriCharts Market Commentary

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.

Corn Higher on Friday, as July Rose Nearly 9% this Week

June 14, 2019

Corn futures ended the Friday session with deferred 2020 contracts steady to 6 1/2 cents higher and 2019 contracts up 7 to 11 cents. The bull spreading is reflecting the strength in the cash markets, especially in the ECB. The front month continuation chart hit its highest price since June 2014, as July was up 8.96% this week. Ethanol futures were up 3.9% on Friday. USDA reported a private export sale of 125,613 MT of 19/20 corn to Unknown Destinations this morning. Spec traders in corn futures and option added 23,969 contracts to their net long position as of June 11, now at 111,212 contracts.

Jul 19 Corn closed at $4.53, up 11 cents,

Sep 19 Corn closed at $4.58 1/4, up 10 1/2 cents,

Dec 19 Corn closed at $4.63 1/2, up 7 3/4 cents

Mar 20 Corn closed at $4.67 1/2, up 6 1/2 cents

--provided by Brugler Marketing & Management

Corn Higher Ahead of the Weekend

June 14, 2019

Corn futures are firm in the back months with nearby contracts up as much as 8 1/2 cents, as the bull spreading continues to show stronger gains in the front months. December 2020 is down a penny at midday. Ethanol futures are up 3% so far on Friday. The front month continuation chart hit its highest price since June 2014 on Friday. USDA reported a private export sale of 125,613 MT of 19/20 corn to Unknown Destinations this morning. Corn export commitments are now 87% of the USDA projected total, vs. 95% last year.

Jul 19 Corn is at $4.50 1/2, up 8 1/2 cents,

Sep 19 Corn is at $4.54 3/4, up 7 cents,

Dec 19 Corn is at $4.60 1/2, up 4 3/4 cents

Mar 20 Corn is at $4.64 3/4, up 3 3/4 cents

--provided by Brugler Marketing & Management

Corn Market Hits 5 Year High as Spreads Tighten

June 14, 2019

Corn futures are trading as much as 5 cents higher in the old crop contracts this morning, with December 2020 down 1 1/2 cents. They saw 2 to 12 cent gains in most contracts on Thursday, with the continuous front month chart hitting the highest price since June 2014. USDA showed that US exporters sold 168,503 MT of old crop corn in the week that ended on June 6. That was better than last week’s net reductions but down 82% from last year. A much larger South American crop yr/yr and rising US FOB prices are a main reason for that lack of sales. New crop sales totaled 94,107 MT. Analysts with Ukraine’s ProAgro estimate the country’s corn crop will hit 32.6 MMT, up 1.4 MMT from their prior number.

--provided by Brugler Marketing & Management

Corn Hits 5-year High as Spreads Narrow

June 13, 2019

Corn futures saw 2 to 12 cent gains in most contracts on Thursday, with the continuous front month chart hitting the highest price since June 2014. The spreads from nearby old crop contracts to deferred new crop contracts are narrowing, insinuating “we want your corn now!”. A private export sale of 175,000 MT of 19/20 corn to Mexico was reported through the USDA’s large sale daily reporting system this morning. USDA shows that US exporters sold 168,503 MT of old crop corn in the week that ended on June 6. That was better than last week’s net reductions but down 82% from last year. A much larger South American crop yr/yr and rising US FOB prices are a main reason for that lack of sales. New crop sales totaled 94,107 MT. Analysts with Ukraine’s ProAgro estimate the country’s corn crop will hit 32.6 MMT, up 1.4 MMT from their prior number.

Jul 19 Corn closed at $4.42, up 12 cents,

Sep 19 Corn closed at $4.47 3/4, up 9 1/2 cents,

Dec 19 Corn closed at $4.55 3/4, up 7 1/4 cents

Mar 20 Corn closed at $4.61, up 4 3/4 cents

--provided by Brugler Marketing & Management

Corn Higher as Spreads Narrow

June 13, 2019

Corn futures are 2 to 9 3/4 cents higher inmost contracts on Thursday. The spreads from nearby old crop contracts to deferred new crop contracts are narrowing, insinuating “we want your corn now!”. A private export sale of 175,000 MT of 19/20 corn to Mexico was reported through the USDA’s large sale daily reporting system this morning. USDA shows that US exporters sold 168,503 MT of old crop corn in the week that ended on June 6, shy of estimates. That was better than last week’s net reductions but down 82% from last year. A much larger South American crop yr/yr and rising US FOB prices are a main reason for that lack of sales. New crop sales totaled 94,107 MT. Analysts with Ukraine’s ProAgro estimate the country’s corn crop will hit 32.6 MMT, up 1.4 MMT from their prior number.

Jul 19 Corn is at $4.39 3/4, up 9 3/4 cents,

Sep 19 Corn is at $4.45 3/4, up 7 1/2 cents,

Dec 19 Corn is at $4.54, up 5 1/2 cents

Mar 20 Corn is at $4.59 3/4, up 3 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