Corn Posts Friday Gains

Corn futures rebounded from the Wednesday session losses, with gains of 6 ¼ to 7 ¾ cents on Friday. Private exporters reported 302,160 MT of corn to Mexico via the USDA mandatory reporting system this AM. USDA’s delayed Export Sales report tallied 20/21 corn bookings at 1.666 MMT for the week of 11/19, above the range of expectations. That total was more than double the same week last year and 53% larger wk/wk. Total commitments of US exports are now 36.921 MMT, the largest for week 12 on record and 162.4% above last year. That total is 55% of the USDA export projection, 13% ahead of the 5-year average pace. Shipments are the laggards vs. that projection, only 14% complete vs. the 17% average. Sorghum sales totaled 355,750 MT, the second largest for the marketing year.

DEC 20 Corn closed at $4.26 1/4, up 6 1/4 cents,
MAR 21 Corn closed at $4.35 1/4, up 7 3/4 cents,
MAY 21 Corn closed at $4.37 3/4, up 7 1/2 cents
JUL 21 Corn closed at $4.38 1/4, up 6 3/4 cents

--- provided by Brugler Marketing & Management




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