Corn Up Double Digits

Midday corn trading has futures up double digits through July ’21, with gains of as much as 13 cents. USDA announced a large export sale of 110,000 MT of corn to unknown destinations, which was split 28% old crop and 72% new crop. In the weekly export sales report corn bookings were 377,188 MT for old crop and 553,144 MT for new crop. New crop sales were down big from the 2.6 MMT last week, but still 79.8% above the same week yr/yr. 2020/21 milo sales on the week were the second highest on record with 527,500 MT booked – with 66% to China and the remainder to unknown. FSA reported 81.12m acres were certified planted for corn. That was the lowest confirmed August planting since data became available in ’07. Note that with coronavirus impacts there could be a backlog of registrations and paperwork. The data is as of July 31. The monthly CASDE (China’s Ag Ministry supply and demand estimates) has 2020/21 corn use at 288 MMT.

Sep 20 Corn is at $3.27, up 12 1/2 cents,

Dec 20 Corn is at $3.40 1/4, up 13 cents,

Mar 21 Corn is at $3.51 1/2, up 12 3/4 cents,

May 21 Corn is at $3.58 3/4, up 12 1/4 cents,

--- provided by Brugler Marketing & Management

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.