Corn Lower in New Calendar Month

Corn futures are starting November 1 1/4 to 2 cents lower. The Buenos Aires Grain Exchange pegged this year’s corn planting progress at 40.2% of their 6.4 million hectares. At this time last year Argentinean corn was 35.5% planted for their expected 6.3 mil hec. The USDA Export Sales report showed corn exports continue to be way behind pace. The latest number is 65.46% of last year’s exports. The accumulated total exports have grown to 3.261 MMT, but that is only 39.17% of a year ago. Net sales from the week ending 10/24 were up 37.48% over the same week in 2018 at 549,138 MT. The IEG Vantage estimated corn yield increased to 168.6 bpa, raising their production forecast to 13.792 bil bushels.

DEC 19 Corn is at $3.88, down 2 cents,

MAR 19 Corn is at $3.96 3/4, down 2 cents,

MAY 20 Corn is at $4.03, down 1 3/4 cents

JUL 20 Corn is at $4.08 3/4, down 1 1/4 cents

-- provided by Brugler Marketing & Management

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