Corn Futures Lower on Friday

Corn futures are down by as much as 5 1/4 cents in the front months. Private exporters reported a sale 567,000 MT of corn to China. Delivery for the sale is spilt with 504,000 MT for 2020/21 delivery and the remaining 69,000 for old crop. Census data showed February corn exports were 154.17 mbu. That was a 57% increase over January exports and 8.3% higher yr/yr. MYTD exports through Feb totaled 619 mb, that is 35.9% of the USDA forecasted 1.725 bbu. Compared to last year when corn exports through Feb totaled 47.5% of the forecasted. Argentina was 22.2% harvested through April 1st; the Buenos Aires Grain Exchange forecasts 50 MMT of production. March corn exports from Brazil were 494,600 MT which was down 332,100 MT yr/yr. Ethanol exports from Brazil totaled 75.1m L in March, which was a 41.5% drop off yr/yr.

May 20 Corn is at $3.28 1/4, down 5 1/4 cents,

Jul 20 Corn is at $3.34 1/4, down 4 1/4 cents,

Sep 20 Corn is at $3.40, down 2 cents,

Dec 20 Corn is at $3.49, down 3/4 cent,

--- provided by Brugler Marketing & Management




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