Corn Posts Double Digit Gains on Friday
BRUG - Fri Jul 12, 5:29PM CDT

Corn futures saw 9 to 11 1/4 cent gains in most contracts on Friday, with July expiring and Sep closing 3.53% higher on the week. Traders shrugged off larger USDA numbers from Thursday, as weather forecasts are starting to heat up for the rest of July. A private export sale of 104,100 MT of corn for 19/20 delivery to Panama was reported by USDA this morning. Friday’s Commitment of Traders report indicated money managers adding 5,520 contracts to their net long position in the week that ended on July 9 to 187,168 contracts. Thursday’s balance sheet update from USDA showed the projected 19/20 US cash average price at $3.70, down a dime from the June report. USDA also cut 100 mbu to the old crop export projection to 2.1 bbu. Buenos Aires Grain Exchange pegs Argentina’s corn harvest at 53.1% complete, compared to the 5-year average of 64.2%.

JUL 19 Corn closed at $4.49 1/2, up 1 3/4 cents,

SEP 19 Corn closed at $4.54 1/4, up 10 cents,

DEC 19 Corn closed at $4.59 1/4, up 11 1/4 cents

MAR 20 Corn closed at $4.65, up 10 1/2 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
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

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.