Corn futures gained out of the weekend, closing the Monday session 2 1/4 to 3 3/4 cents higher. USDA announced a large corn export sale of 345,000 MT to unknown. Mexico also purchased 123,000 MT of corn for 2020/21 delivery. USDA’s Export Inspections data had 35.87 mbu of corn shipped on the week ending 10/15. That was up from 33 million LW and was 13 mbu above the same week last year. Almost all of the shipments, ~80%, were to either China, Mexico, or Japan – with 40% to China alone. MYTD corn exports were at 214.8 mbu, compared to 142.5 LY. NASS showed corn maturity was 97% as of 10/18, with 60% picked by that date. Harvest was up 19% from LW and running 17% ahead of average. In IA, 65% of corn has been harvested, compared to the 29% average. The final corn conditions for this year’s harvest was a 357 on the Brugler500 index. That was UNCH from last week, but down 19 from the initial corn ratings and 4 points ahead of LY’s final.
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Dec 20 Corn closed at $4.05 1/4, up 3 1/4 cents,
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Mar 21 Corn closed at $4.10 1/2, up 3 1/2 cents,
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May 21 Corn closed at $4.12 1/4, up 3 3/4 cents,
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Jul 21 Corn closed at $4.12, up 3 1/4 cents,
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--- provided by Brugler Marketing & Management
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