Corn Bounce on Weather Forecasts
BRUG - Mon Oct 07, 5:20PM CDT

Corn futures closed the Monday session with 2 to 3 cent gains in the front months. The weekly Crop Progress report indicated that collectively the 18 states USDA tracks were 93% dented (99% avg) as of Sunday, with 58% mature (85% avg). NASS also showed harvest in those 18-states 12% below the average at 15% complete. Condition ratings dropped 1% to 56% gd/ex, with the Brugler500 down 2 at 348. Heavy snow is expected in the Dakotas and Minnesota late this week, along with a hard freeze. Weekly corn exports via USDA’s Export Inspections report were tallied at 466,521 MT for week ending October 3, which is up 44,786 MT from last week. Corn exports were down 67.88% from the same week last year. The MY to date total for corn exports so far is 2.019 MMT which is 65.83% behind last MY’s pace.

DEC 19 Corn closed at $3.87, up 2 1/4 cents,

MAR 19 Corn closed at $3.99, up 2 cents,

MAY 20 Corn closed at $4.04 1/2, up 2 cents

JUL 20 Corn closed at $4.08 1/4, up 2 1/2 cents

-- provided by Brugler Marketing & Management

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