Corn futures are 4 to 4 1/2 cents lower in the nearby contracts on Tuesday. The USDA announced a private export sale of 133,096 MT of 17/18 corn to unknown destinations this morning but it didn’t move the meter. The Monday afternoon NASS Crop Progress report showed most states lagging their harvest averages, with only TN and NC ahead of their normal progress. The Monday edition of the CFTC Commitment of Traders report showed spec funds in corn futures and options adding 2,861 to their net short position of 205,624 contracts on 11/7. Around 60,000 MT of corn thought to be likely US origin was purchased by South Korea’s KOCOPIA on Tuesday.

Dec 17 Corn is at $3.37 3/4, down 4 1/2 cents,

Mar 18 Corn is at $3.50 3/4, down 4 1/4 cents,

May 18 Corn is at $3.59 1/4, down 4 1/4 cents

Jul 18 Corn is at $3.67 1/4, down 4 cents

Market Commentary provided by:

Brugler Marketing & Management LLC
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