Corn futures are following Turkey Day with steady hikes in nearby futures, with midday gains ranging from 5 1/4 to 7 3/4 cents. Trade ideas for this morning’s USDA weekly Export Sales report were 400,000 to 900,000 MT, and the data was at the high end with 806,751 of net sales for the week ending 11/21. That was 2.4% more than last week, but was only 63.7% of week 12 last MY. The total commitments through the first 12weeks are now at 14.069 MMT, which is 44.08% behind last year’s pace. The report also pegged shipments at 635,334 MT for the week, which was a 6% decrease wk/wk and 39.68% below the same week last year. There were zero delivery notices against December corn on first notice day. The oldest long is dated 5/17/19. CFTC Commitment of Traders data is not expected until Monday.
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DEC 19 Corn is at $3.70 1/2, up 7 3/4 cents, |
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MAR 19 Corn is at $3.80, up 6 3/4 cents, |
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MAY 20 Corn is at $3.84 3/4, up 5 3/4 cents |
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JUL 20 Corn is at $3.89 1/2, up 5 1/4 cents |
---provided by Brugler Marketing & Management
