Corn Lower as Rains Roll Across the Corn Belt

Corn futures are down 5 to 6 1/2 cents as rains rolled across most of the Corn Belt over the weekend. The ProFarmer Midwest Crop Tour is underway on both the western and eastern ends of the Corn Belt. USDA Export Inspections data showed 510,334 MT of corn shipped in the week that ended on August 15. That was down 30% from the week prior and roughly half of the same week last year. Mexico was the largest customer with 270,153 MT. Sorghum shipments to China totaled 50,002 MT. Friday afternoon’s Commitment of Traders report indicated spec funds holding a net long position of 44,513 contracts in corn futures and options, a reduction of 45% from last week but larger than expected.

SEP 19 Corn is at $3.64 3/4, down 6 1/4 cents,

DEC 19 Corn is at $3.74 1/4, down 6 1/2 cents,

MAR 20 Corn is at $3.86 3/4, down 6 cents

MAY 20 Corn is at $3.94 1/2, down 5 1/2 cents

--- provided by Brugler Marketing & Management

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