Corn Bouncing on Weather Forecasts

Corn futures are up 1 1/4 to 2 1/4 at midday on Monday. Heavy snow is expected in the Dakotas and Minnesota late this week, along with a hard freeze. Ahead of this afternoons progress report, traders are expecting 17% of US corn harvested, which would be up 6% from last week. This time last year had 24% of corn harvested. 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 is at $3.87, up 2 1/4 cents,

MAR 19 Corn is at $3.98 3/4, up 1 3/4 cents,

MAY 20 Corn is at $4.03 3/4, up 1 1/4 cents

JUL 20 Corn is at $4.07 1/2, up 1 3/4 cents

-- provided by Brugler Marketing & Management

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