Corn futures are trading 3 to 6 cents lower in a little Turnaround Tuesday action this morning. They closed the Monday session with 3 1/2 cent gains in nearby Dec, with other front months up 5 ¼ to 5 3/4 cents. A private export sale of 334,000 MT of 20/21 corn to unknown destinations was reported by the USDA mandatory reporting system on Monday. USDA’s weekly Export Inspections report put corn shipments for the week ending 11/19 at 832,637 MT. That was slightly below last week but 34.97% larger yr/yr. Exports since September 1 are 9.25 MMT (364.2 mbu), 64.82% larger than the same period last year. Sorghum inspections were 121,096 MT in that week, all to China. YTD US exports are 1.096 MMT, more than double the same time in 2019. Brazil’s first crop corn in the Center-South region is now pegged as 91% planted according to AgRural, 9% faster than the same week in 2019.
--- provided by Brugler Marketing & Management
