Corn Futures Another 1 to 2 Cents Higher
Alan Brugler - Barchart - Fri Oct 23, 12:20PM UTC

Overnight, corn prices moved 1 to 2 cents higher. On Thursday, corn closed with 1 1/4 to 2 1/2 cents gains. Barchart’s cmdtyView corn yield and production forecasts were updated. Estimated yield is now at 179.77, up 1.54 bpa, and production is 15.275, up 156 mbu. USDA’s weekly Export Sales report showed that 1,831,566 MT (72 mbu) were sold on the week ending 10/15. Total export commitments are 1.116 bbu through the first 7 weeks of the MY. That is 48% of USDA’s forecast for the full year, compared to the same week last year when accumulated commits were 23% of the Oct forecast. USDA’s Ag Attaché sees lower yield in Ukraine, reducing production by 17% compared with USDA’s official estimate. FAS Kyviv sees Ukraine 2020/21 ending stocks 696k lighter than USDA’s official, at 867,000 MT.

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