Corn Back to UNCH at Midday
BRUG - Mon May 13, 12:11PM CDT

Corn futures have clawed their way back to UNCH or fractionally higher in the front months on Monday. They were 7-8 cents lower overnight. This morning’s Export Inspections report indicated that 1.001 MMT of corn was shipped in the week that ended on May 9. That was up 2.45% from the week prior but still 36.59% below the same week in 2018. The Friday afternoon Commitment of Traders report showed managed money specs in corn futures and options trimming their net short position as of May 7 by 24,372 contracts to 282,327 contracts. Trade ideas for US corn planting progress are in the 35-37% range vs. 69% average for this date.

May 19 Corn is at $3.42 1/2, unch,

Jul 19 Corn is at $3.51 3/4, unch ,

Sep 19 Corn is at $3.61 1/4, up 1/4 cent

Dec 19 Corn is at $3.72 1/2, up 1/2 cent

--provided by Brugler Marketing & Management

Market Commentary provided by:

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