Corn Hovering Near UNCH at Midday

Corn futures are fractionally mixed in the nearby contracts at midday. As of August 1, US total corn export commitments are just 94% of the USDA projected total, with the 5-year average at 104%. Accumulated shipments via the Export Sales report are 88% of that projection vs, the typical 91% pace. Ahead of Monday’s USDA report, analysts are looking for old crop world ending corn stocks to be up ~1.09 MMT to 329.84 MMT. New crop estimates are running 290.09 MMT, which would be an 8.93 MMT drop from the July report.

SEP 19 Corn is at $4.10 3/4, down 1/4 cent,

DEC 19 Corn is at $4.18 1/2, up 1/4 cent,

MAR 20 Corn is at $4.28 3/4, up 1/4 cent

MAY 20 Corn is at $4.33 3/4, up 1/4 cent

--provided by Brugler Marketing & Management

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