Corn

Corn futures came back to show gains of 4 to 6 3/4 cents on profit taking to end the week. Sep corn lost 4.14% since last Friday, as July expired at $3.65 1/4. According to trade reports, Planalytics now projects the US corn yield at 165.3 bpa, down 1.3 bpa from their previous estimate. Friday’s CTFC data shows managed money making a huge shift of 147,679 contracts for the week ending July 11. Their position switched from net short to a net long position of 100,964 contracts in corn futures and options trading. China sold an additional 2.6 MMT of 2014 corn in an auction of state reserves that had 2.99 MMT of corn offered on Friday.

Jul 17 Corn closed at $3.65 1/4, up 4 1/4 cents,

Sep 17 Corn closed at $3.76 1/4, up 6 1/2 cents,

Dec 17 Corn closed at $3.89 1/2, up 6 1/2 cents

Mar 18 Corn closed at $4.00 1/4, up 6 3/4 cents




Market Commentary provided by:

Brugler Marketing & Management LLC
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Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
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