Corn Higher to Start the New Week

Corn futures are trading 4 to 5 cents higher in most contracts on Monday, with a few 2020 contracts up 1-2 cents. USDA showed 617,740 MT of corn shipments during the week that ended on June 20 in this morning’s Export Inspections report. That was down 8.9% from last week and less than half of the same week last year. In addition, 109,914 MT of sorghum was shipped to China. Trade ideas for NASS planting progress tonight are 98-99%, with intentions shrinking and thus boosting the percentage. Friday afternoon’s Commitment of Traders report indicated that spec funds in corn futures and options added another 32,303 contracts to their net long position as of Tuesday, taking it to 143,515 contracts.

Jul 19 Corn is at $4.46 3/4, up 4 1/2 cents,

Sep 19 Corn is at $4.52 1/2, up 5 cents,

Dec 19 Corn is at $4.58 1/4, up 4 3/4 cents

Mar 20 Corn is at $4.64, up 4 3/4 cents

--provided by Brugler Marketing & Management

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