Corn Breaks $4 as Forecasts Continue to Push Market Higher

Corn futures are showing 8 to 12 cent gains in the nearby contracts on Friday. The front month continuation chart broke $4 for the first time since last May, with July trying to hold at midday. Weather forecasts continue to show rains for much of the Midwest into next week. USDA reported a private export sale of 113,000 MT of corn for 18/19 delivery to Mexico this morning. As of last Thursday, USDA showed corn exports at 65% of their full year projection, just 1% behind normal. Total commitments, however, are 12% back of the 5-year average at 81% of the USDA projection, as unshipped sales are lagging.

Jul 19 Corn is at $4.01 3/4, up 12 cents,

Sep 19 Corn is at $4.10 1/2, up 12 cents,

Dec 19 Corn is at $4.18 1/4, up 10 1/4 cents

Mar 20 Corn is at $4.27 1/2, up 8 1/4 cents

--provided by Brugler Marketing & Management




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