OCT 19 Cattle closed at $108.475, up $0.300, DEC 19 Cattle closed at $111.175, up $0.325, FEB 20 Cattle closed at $117.300, up $0.600, OCT 19 Feeder Cattle closed at $144.500, up $2.475 NOV 19 Feeder Cattle closed at $144.250, up $3.000 JAN 19 Feeder Cattle closed at $139.525, up $2.775

Corn futures saw marginal losses in nearby contracts ahead of Thursday’s reports. The EIA weekly report showed another round of low production data at 963,000 barrels per day for the week of 10/4, up 5,000 bpd from last week. Ethanol stocks were at a 2-year low, 21.224 million barrels, down 1.995 million barrels from last week. That is the largest wk/wk draw down on record. With corn production estimates expected to be revised lower and a smaller carry-in from old crop, analysts project a 508 mbu cut to 19/20 ending stocks at 1.682 bbu. World stocks are seen down 9.67 MMT from Sept at 296.6 MMT. Ahead of the weekly Export Sales report, analysts estimate 500,000-800,000 MT in 19/20 corn bookings.

DEC 19 Corn closed at $3.94 1/4, down 1 1/2 cents,

MAR 19 Corn closed at $4.05 1/2, down 1 cent,

MAY 20 Corn closed at $4.10 3/4, down 1/2 cent

JUL 20 Corn closed at $4.14 1/2, unch

-- provided by Brugler Marketing & Management

Market Commentary provided by:

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