Corn Futures PricesFri, Jul 31st, 2015
Latest Brugler Corn Report
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Corn futures settled 4 to 6 cents higher on Thursday. The market traded within a 9 to 10 cent range, and most contracts finished just a penny or two off their highs. Dec corn hit the lowest reading since June 23 at $3.75 3/4 before recovering. Weekly export sales reported by the USDA were slightly above the high end of published trade expectations. Net sales increased by 51% from the previous week. Old crop purchases were 364,900 MT, and new crop sales were 443,300 MT, with Japan buying a total of 422,200 MT. Corn export shipments were down just over 84,000 MT from last week, but still over one million MT. Total export commitments are now above 100% of the WASDE full year forecast, but just 64% of 2014 numbers. Now the challenge becomes getting them all shipped before August 31.
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