Corn Closes a Nickel Lower

After a failed attempt at Turnaround Tuesday, front month corn futures ended the session with 3 to 5 1/4 cent losses. There were zero deliveries issued overnight against December, but some limited rains in Brazil and some first of month asset allocation selling pressured the market. USDA’s Grain Crushings report after the close showed a 7.8% increase in the month’s corn use for ethanol. In October, the national corn grind was 432.713 mbu. That produced 1.8m tons of DDGS, a monthly increase of 3.75% but still 3.75% below October 2019. StoneX estimates Brazilian corn production at 109.34 MMT, a 1.76 MMT decrease from their November estimate.

Dec 20 Corn closed at $4.14 3/4, down 5 cents,
Mar 21 Corn closed at $4.20 3/4, down 5 1/4 cents,
May 21 Corn closed at $4.24, down 5 cents,
Jul 21 Corn closed at $4.24 3/4, down 5 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.