Corn Bouncing from Lows, on Turnaround Tuesday
Corn futures are down 1 to 2 ¾ cents in the front months on Tuesday, with Dec 21 unch. Following two days of gains and matching or making contract highs in several contracts, traders are taking a little money off the table on Turnaround Tuesday. Turkey purchased at least 350,000 MT of corn in a tender on Tuesday. Chinese Customs import data showed 1.14 MMT of corn was imported in October, well above last year. That brought the YTD total to 7.82 MMT, up 97.3% from a year ago and above their official TRQ of 7.2 MMT. Sorghum imports have totaled 4.02 MMT this year, nearly 4.5 times larger than in 2019.
| DEC 20 Corn is at $4.24, down 2 1/2 cents, |
| MAR 21 Corn is at $4.30 3/4, down 2 1/2 cents, |
| MAY 21 Corn is at $4.33 3/4, down 2 3/4 cents |
| JUL 21 Corn is at $4.34 3/4, down 1 1/2 cents |
--- provided by Brugler Marketing & Management
