Corn Market Hovers Near UNCH

Corn futures are UNCH to fractionally lower this morning after finishing Monday with 4 to 4 3/4 cent losses. Trade ideas for US corn harvest are running 65-66% completed. USDA will release those numbers later today. Commercial sources are estimating export shipments will be in the 350-400,000 MT range. South Korea was reported on the wires to have purchased ~65,000 MT of corn Monday for last half Dec or Jan shipment. CHS was reportedly the seller, but the grain may not be US origin, with some sources suggesting Black Sea or even South America. US FOB prices are above Argentine and Ukrainian prices, although recently below Brazil. December corn options are scheduled to expire a week from Friday.

---provided by Brugler Marketing & Management




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