Corn Lower at Monday’s Close

Corn futures finished Monday’s session with 4 to 4 3/4 cent losses. Trade ideas for US corn harvest are running 65-66% completed. USDA won’t release those numbers until Tuesday because of the Veteran’s Day holiday. South Korea was reported to have purchased 66,000 MT of corn today. Reportedly, the purchase was directly from US sources, as South Korea did not issue an international tender. Projected US ending stocks were cut to 1.910 bbu on Friday, with smaller production but also lower exports, feed use, and ethanol use. The world corn carryout was also cut to 295.96 MMT.

DEC 19 Corn closed at $3.73 1/4, down 4 cents,

MAR 19 Corn closed at $3.82, down 4 1/2 cents,

MAY 20 Corn closed at $3.88 3/4, down 4 3/4 cents

JUL 20 Corn closed at $3.95, down 4 3/4 cents

---provided by Brugler Marketing & Management

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