Corn Looking Past USDA Reports on Friday

Corn futures are showing 8 to 9 1/2 cent gains in most contracts on Friday. A private export sale of 104,100 MT of corn for 19/20 delivery to Panama was reported by USDA this morning. Thursday’s balance sheet update from USDA showed the projected 19/20 US cash average price at $3.70, down a dime from the June report. USDA also cut 100 mbu to the old crop export projection to 2.1 bbu. Buenos Aires Grain Exchange pegs Argentina’s corn harvest at 53.1% complete, compared to the 5-year average of 64.2%.

JUL 19 Corn is at $4.49 3/4, up 2 cents,

SEP 19 Corn is at $4.52 3/4, up 8 1/2 cents,

DEC 19 Corn is at $4.57 1/2, up 9 1/2 cents

MAR 20 Corn is at $4.63 1/2, up 9 cents

--provided by Brugler Marketing & Management

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