Corn Market Commentary

Corn futures are fractionally mixed at midday after some light pre-weekend position squaring faded. Rains are expected over the next week along the northern part of the Corn Belt according to the 7-day QPF model. As of last Thursday, total export commitments for corn (including the first 6 days of shipments and all unshipped sales) totaled 25% of the USDA export projection of 2.4 bbu. The average for that time is 24% complete. An auction of Chinese state reserves saw 1.026 MMT of corn sold on Friday, totaling 25.69% of the amount offered.

Sep 18 Corn is at $3.37 1/2, up 1 1/4 cents,

Dec 18 Corn is at $3.50 1/2, unch ,

Mar 19 Corn is at $3.62 1/2, down 1/4 cent

May 19 Corn is at $3.71, down 1/4 cent




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