Corn Ends with Losses

Corn closes the session with losses of a nickel to 8 3/4 cents for the front months. Money was heading for the sidelines in a lot of markets, and corn was not exempt. After the close, NASS reported corn maturity progressed 18% to 59%. Harvest also progressed by 3% on the week to 8% cut. That was below the average trade estimate, and 2% behind the 5-yr average. NASS noted that 5% of the national crop is not yet dented, which is 5% ahead of average. Conditions from the Crop Progress report were 61% good/ex for a Brugler500 score of 356. USDA’s weekly Export Inspections report confirmed 755,11 MT of corn shipped on the week ending 9/17. That was 221% above the same week last year, and left MYTD shipments 74% above last year’s pace. China was the top destination for the week’s corn exports, with 18% of the total. Colombia was the second top destination with 134k MT.

Dec 20 Corn closed at $3.69 3/4, down 8 3/4 cents,

Mar 21 Corn closed at $3.79 1/4, down 8 1/4 cents,

May 21 Corn closed at $3.84 3/4, down 8 cents,

Jul 21 Corn closed at $3.88 3/4, down 6 3/4 cents,

--- provided by Brugler Marketing & Management

Market Commentary provided by:

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