Corn lower on Thursday
BRUG - Thu Nov 07, 12:14PM CST

Corn futures are lower at midday, down by 2 1/4 to 2 3/4 cents. Preliminary open interest rose 3,248 contracts on Wednesday’s sell off. USDA’s weekly export sales report this morning showed corn export sales were in line with expectations, listed at 487,944 MT through the week ending 10/31. That is 11.1% lower wk/wk, but is up 15% over the previous 4 week average, which is now updated to 474,279 MT. Corn exports were 317,879 MT (12.51 mbu) to bring the accumulated exports up to 3.939 MMT (155.07 mbu). Accumulated exports continue to be below last year’s pace, currently 37.16%. The report also showed that China had purchased 123,000 MT of Sorghum for the week. Up until that point, the country hadn’t made any purchase, or received any shipments of sorghum.

Dec 19 Corn is at $3.76 1/2, down 2 1/4 cents,

Mar 20 Corn is at $3.85, down 2 3/4 cents,

May 20 Corn is at $3.92, down 2 3/4 cents,

Jul 20 Corn is at $3.98, down 2 3/4 cents,

-- provided by Brugler Marketing & Management




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