Corn Down on Friday

Corn futures are down 3 to 4 1/2 cents in the front months. Census trade data released this morning shows 2.825 MMT (111.22 mbu) of US corn exported during August. That is 2% lower than last month and less than half from a year ago. Corn exports for the full MY were 2.060 bbu, matching USDA’s projection. They also tallied August ethanol exports at a monthly record 122.5 million gallons. The Trump Administration has announced commitments towards a new biofuels policy. The EPA’s new policy will boost annual biofuels blending quotas. The plan has until Nov 30 to finalize volumes for 2020 and proceed with enacting the new requirements. IEG Vantage (formerly Informa) estimates the US corn yield at 167.5 bpa, down 2.1 bpa from their previous number.

DEC 19 Corn is at $3.84 1/4, down 4 1/2 cents,

MAR 19 Corn is at $3.96 1/4, down 4 1/2 cents,

MAY 20 Corn is at $4.02, down 4 cents

JUL 20 Corn is at $4.05 1/2, down 3 cents

-- provided by Brugler Marketing & Management

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