AgriCharts Market Commentary

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.

Corn Loses Early Gains

Corn futures are 3 3/4 to 4 1/2 cents lower in midday trading, giving back early gains as additional rainfall either fell or was predicted for many of the dry pockets in the Corn Belt. The weekly Crop Progress report indicated that 55% of the US corn crop was in the dough stage (76% avg), with 15% dented (30% avg) as of Sunday. Condition ratings slipped 1% to 57 % gd/ex, with the Brugler500 Index down 2 points to 349. The ProFarmer Midwest Crop Tour is on its second day of yield checks. Day one averages in Ohio average were 154.35 bpa, well below the 179.5 bpa from last year and 164.4 bpa average. South Dakota average was 154.1 bpa and down 13% from the tour average last year.

SEP 19 Corn is at $3.61, down 4 cents,

DEC 19 Corn is at $3.70, down 4 1/2 cents,

MAR 20 Corn is at $3.82 3/4, down 4 1/4 cents

MAY 20 Corn is at $3.90 1/2, down 3 3/4 cents

--- provided by Brugler Marketing & Management

Corn Market Rebounds 4 to 5 Cents

Corn futures are 4 to 5 cents higher to start Turnaround Tuesday trading. The weekly Crop Progress report indicated that 55% of the US corn crop was in the dough stage (76% avg), with 15% dented (30% avg) as of Sunday. Condition ratings slipped 1% to 57 % gd/ex, with the Brugler500 Index down 2 points to 349. The ProFarmer Midwest Crop Tour is underway on both the western and eastern ends of the Corn Belt. The Ohio average was 154.35 bpa, and down the same 14% as USDA. South Dakota average was 154.1 bpa and down 13% from the tour average last year. USDA Export Inspections data showed 510,334 MT of corn shipped in the week that ended on August 15. That was down 30% from the week prior and roughly half of the same week last year. Sorghum shipments to China totaled 50,002 MT.

--- provided by Brugler Marketing & Management

Corn Closes the Day Lower

Corn futures were down 5 3/4 to 6 1/4 cents on Monday as rains rolled across most of the Corn Belt over the weekend. The weekly Crop Progress report indicated that 55% of the US corn crop was in the dough stage (76% avg), with 15% dented (30% avg) as of Sunday. Condition ratings slipped 1% to 57 % gd/ex, with the Brugler500 Index down 2 points to 349. The ProFarmer Midwest Crop Tour is underway on both the western and eastern ends of the Corn Belt. Day one results from parts of IN, OH, SD and NE should be out later this evening. USDA Export Inspections data showed 510,334 MT of corn shipped in the week that ended on August 15. That was down 30% from the week prior and roughly half of the same week last year. Sorghum shipments to China totaled 50,002 MT.

SEP 19 Corn closed at $3.65, down 6 cents,

DEC 19 Corn closed at $3.74 1/2, down 6 1/4 cents,

MAR 20 Corn closed at $3.87, down 5 3/4 cents

MAY 20 Corn closed at $3.94 1/4, down 5 3/4 cents

--- provided by Brugler Marketing & Management


Corn Lower as Rains Roll Across the Corn Belt

Corn futures are down 5 to 6 1/2 cents as rains rolled across most of the Corn Belt over the weekend. The ProFarmer Midwest Crop Tour is underway on both the western and eastern ends of the Corn Belt. USDA Export Inspections data showed 510,334 MT of corn shipped in the week that ended on August 15. That was down 30% from the week prior and roughly half of the same week last year. Mexico was the largest customer with 270,153 MT. Sorghum shipments to China totaled 50,002 MT. Friday afternoon’s Commitment of Traders report indicated spec funds holding a net long position of 44,513 contracts in corn futures and options, a reduction of 45% from last week but larger than expected.

SEP 19 Corn is at $3.64 3/4, down 6 1/4 cents,

DEC 19 Corn is at $3.74 1/4, down 6 1/2 cents,

MAR 20 Corn is at $3.86 3/4, down 6 cents

MAY 20 Corn is at $3.94 1/2, down 5 1/2 cents

--- provided by Brugler Marketing & Management

Corn 5 to 6 Cents Lower On Weekend Rains

Corn futures open the week 5 to 6 cents lower as rain hit the dry eastern Corn Belt over the weekend. Prices were technically oversold following the early week melt down and there was some bottom picking activity being attempted in the December contract on Friday. Preliminary open interest rose 11, 172 contracts in the December on Friday, but was down 3,808 overall. Friday afternoon’s Commitment of Traders report indicated spec funds holding a net long position of 44, 513 contracts in corn futures and options, a reduction of 45% from last week. South Korea purchased 63,000 MT for corn to be delivered in January 2020. Areas of dryness shrank over the weekend in the ECB, with up to 2.5 inches reported in western Ohio and 1+ inches in northern IL. It was T-storm activity, so not everyone got it, but some of the pockets on the Drought Monitor got meaningful rain.

--- provided by Brugler Marketing & Management


Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com