Corn Down on Turnaround Tuesday Trades
BRUG - Tue Nov 26, 4:43PM CST

Corn futures gave back 2 1/4 to 3 cents since having gained a couple cents on Monday. The US stock market continues to post new all time highs, drawing speculative money away from commodities. Taiwan is tendering for 65,000 MT of corn. North Dakota was 30% harvested as of Sunday, compared to 23% last week and an average of 91%. The Crop Progress report had Wisconsin at 57% vs. an average of 85% done by now, and MI was also behind their average pace, at 56% as compared to 83%. The Brazilian Real touched an all-time low against the dollar this afternoon closing at the record of .2364 dollars to Real. The country’s competitiveness has helped to limit American corn exports, and boost their own, with the latest trader estimates for full year exports at 36.7 MMT of corn through Nov 23.

Dec 19 Corn closed at $3.67 1/2, down 3 cents,

Mar 20 Corn closed at $3.78 1/4, down 2 1/2 cents,

May 20 Corn closed at $3.84 1/4, down 2 1/4 cents,

Jul 20 Corn closed at $3.89 1/2, down 2 1/2 cents,

--provided by Brugler Marketing & Management

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