Corn Futures Steady to Fractional Gains

Corn futures are fractionally higher at midday. USDA weekly corn export sales were reported at 546,115 MT for the week ending 11/28. That was at the bottom of expectations, and was 46.38% below last year. The shipments were at 494,779 MT on the week which was a 140,555 MT. Accumulated exports have increased to 6.344 MMT as of the weekly report. Census data for monthly corn exports showed that October corn shipments were 90.7 mbu, a 59.27% decrease from last October and up 13.59% from September. Ethanol monthly exports were at 112.822 million gallons, which was 65.89% of last October’s record. Due to the low ethanol production, DDG exports were at just 759,979 MT. There were 129 delivery notices against December futures overnight, with the oldest long now dated 8/28/19.

DEC 19 Corn closed at $3.69 1/4, up 1/2 cent,

MAR 19 Corn closed at $3.79, up 1/2 cent,

MAY 20 Corn closed at $3.85, up 1/2 cent

JUL 20 Corn closed at $3.89 1/4, unch

---provided by Brugler Marketing & Management

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