Corn Market Trading Higher

Through midday, corn is up 3/4 to 3 cents. New crop gains are limited to 2 cents. From the week ending August 6, USDA reported 1.151 MMT (45.3 mbu) of corn was exported. That was 16.5 mbu above the same week last year, and the largest weekly shipment since the week ending June 18. Of the week’s shipments, China was the top destination with 23% of the total, 21% was for Mexico, and 15% was destined for Japan. Accumulated corn exports were up to 1.54 bbu, which still trails last year’s pace by 14%. Also from the report, sorghum shipments were down significantly on the week (%) and below last year. In total, 38,959 MT of milo was shipped on the week, with 38,200 MT to Somalia. Traders are expecting USDA to show crop conditions UNCH to perhaps 1 point lower in the good/excellent categories tonight. Some analysts are also indicating that USDA’s August corn production estimate has been larger than the average trade guess in each of the past 5 years.

Sep 20 Corn is at $3.10 3/4, up 3 cents,

Dec 20 Corn is at $3.22 3/4, up 2 cents,

Mar 21 Corn is at $3.34 1/4, up 1 1/2 cents,

May 21 Corn is at $3.42 1/2, up 1 1/4 cents,

--- provided by Brugler Marketing & Management




<p>Market Commentary provided by:<br /> <img src="https://s3.amazonaws.com/images1.aws.barchart.com/logos/bruglerlogo.gif" border="0" /><br /> Brugler Marketing &amp; Management LLC<br /> 1908 N. 203rd St.Omaha, NE 68022<br /> Phone: 402-697-3623<br /> Fax: 402-289-2353<br /> E-mail: <a href="mailto:alanb@bruglermktg.com">alanb@bruglermktg.com</a><br /> Web: <a href="http://bruglermarketing.com/">http://bruglermarketing.com</a></p> <p align="center"><!-- [if gte mso 9]><xml> <w:WordDocument> <w:View>Normal</w:View> <w:Zoom>0</w:Zoom> <w:TrackMoves/> <w:TrackFormatting/> <w:PunctuationKerning/> <w:ValidateAgainstSchemas/> <w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid> <w:IgnoreMixedContent>false</w:IgnoreMixedContent> <w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText> <w:DoNotPromoteQF/> <w:LidThemeOther>EN-US</w:LidThemeOther> <w:LidThemeAsian>X-NONE</w:LidThemeAsian> <w:LidThemeComplexScript>X-NONE</w:LidThemeComplexScript> <w:Compatibility> <w:BreakWrappedTables/> 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