Corn Squeezes Out Gains on Friday

Corn futures settled mixed in Friday’s lame duck session, with nearby contracts 1 to 2 cents higher and deferred contracts as much as 2 3/4 cents lower. USDA’s Export Sales report this morning indicated that 175,561 MT of old crop corn was sold for export in the week of June 27. That was a 40.47% drop from the previous week and 40.16% lower than the same week in 2018. New crop sales totaled 156,251 MT. A total of 48,778 MT of sorghum was sold to China in that week. The weekly CFTC Commitment of Traders report has been delayed until Monday by the mid-week holiday. EPA proposed leaving 2020 mandated use for conventional ethanol at 15 billion gallons, UNCH from 2019.

JUL 19 Corn closed at $4.34, up 1 cent,

SEP 19 Corn closed at $4.38 3/4, up 2 cents,

DEC 19 Corn closed at $4.42 1/4, up 1 cent

MAR 20 Corn closed at $4.49, up 3/4 cent

--provided by Brugler Marketing & Management

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