Corn Jul '19 (ZCN19)
Corn Futures Market News and Commentary
Corn futures did finish lower on Monday, dropping by as much as 3 3/4 cents in the front months. Harvest gained 10% over the week, which was a slowdown in weekly progress as last week gained 14%. The USDA reported a private export sale of 132,000 MT of corn to unknown destination for a 19/20 MY delivery under the daily reporting system. Export inspections for the week ending 11/15 were up 9.55% to 637,397 MT. export inspections for the same week last year were 845,957 MT. Colombia and Mexico were the main destinations for the shipments, with 16.38% and 58.32% respectively. The MYTD inspections are now 4.980 MMT (196.052 mbu). Corn exports remain considerably lower than last year’s pace, the accumulated export inspections 58.44% behind, or are 275.735 mbu less. Conversely, sorghum exports are exceeding last year’s pace. The MYTD accumulated export inspections for the substitute are 445,663 MT as of 11/14, which is nearly double (94.98%) this point last year. The USDA’s weekly crop pr... Read more
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