Corn Market 2 to 6 Cents Higher To Begin Week

Corn futures are trading 2 to 6 cents higher this morning, led by nearby July. They 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. The USDA Export Sales report showed a net 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. The weekly CFTC Commitment of Traders report was delayed until this afternoon by the mid-week holiday. EPA proposed leaving 2020 mandated use for conventional ethanol at 15 billion gallons, UNCH from 2019. Traders are leaning toward a modest improvement in US crop conditions in this afternoon’s USDA crop progress report.

--provided by Brugler Marketing & Management

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