Corn Market 2 to 3 Cents Lower

Corn futures are 2 to 3 cents lower this morning. They closed fractionally lower on Friday, with Dec futures gaining 2 1/2 on the week. The Buenos Aires Grain Exchange pegged this year’s corn planting progress at 40.2% of their 6.4 million hectares (15.815 million acres). At this time last year Argentine corn was 35.5% planted for their expected 6.3 mil HA (15.568 mil ac). The CFTC report showed managed money spec funds expanded their net short position by 9,282 contracts from the previous week. They were net short 85,337 contracts as of 10/29. The IEG Vantage group estimated US corn yield increased to 168.6 bpa, raising their production forecast to 13.792 bil bushels. Brokerage firm FCS is using 170 bpa. USDA’s first estimate for 2020 corn acres is 94.5 million. The next revision will be in February for the Outlook Forum.

-- 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

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!


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.