Corn Futures PricesFri, Oct 24th, 2014
Latest Brugler Corn Report
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Corn futures finished the day with losses of nearly 7 cents, after the December contract hit $3.65 early this morning. The Dec contract was still able to gain more than a nickel on the week. We suspect some traders took profits off the table at the end of a relatively solid week for the corn market. Private exporters reported to the USDA an export sale of 101,600 MT to unknown destinations this morning. Brazilian ethanol imports are expected by Datagro to double this year vs. last year, with the US capturing the majority of the business. The weekly Commitment of Traders report showed managed money accounts were getting longer by a net 38,284 contracts as of the Tuesday close. The funds were net long 126,952 contracts, their largest net long reported since mid-June.
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