Corn Lower at Midday
BRUG - Wed Nov 13, 12:00PM CST

Corn futures are lower at midday, down by as much as 2 1/2 cents. Brazil’s CONAB slightly lowered their 19/20 corn production forecast, down 30,000 MT to 98.37 MMT. The Nov WASDE projects 101 MMT of Brazilian corn. CONAB corn exports for the 19/20 MY remained UNCH at 34 MMT, which was down from the 18/19 record of 39 MMT corn exports. The weekly EIA report will come out tomorrow, following the Veteran’s Day break. USDA stated US corn harvest was 66% complete as of 11/10, which is well behind the 85% average for this time of year. USDA Corn export inspections outpaced anticipations, at 560,105 MT for the week ending 11/07. That brought the MYTD to 4.321 MMT.

DEC 19 Corn is at $3.76, down 1 3/4 cents,

MAR 19 Corn is at $3.84 1/2, down 2 cents,

MAY 20 Corn is at $3.90 1/4, down 2 1/2 cents

JUL 20 Corn is at $3.96 1/4, down 2 1/2 cents

---provided by Brugler Marketing & Management

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