Corn Closes Limit Lower
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 ZCN24 - Corn
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ZCZ21588-6s+4-4+0.77%
ZCPZ21US.CM5.7930-0.0285-0.49%

Futures bounced back from limit losses during the afternoon. Old crop July prices were back to the minus 40 cent mark by the close. New crop futures stayed off the limits, and corn futures will maintain the 40 cent daily limit for tomorrow’s trade. 

USDA’s weekly Export Sales data release showed net cancelations for old crop corn bookings. Mexico, South Korea, and Japan were buyers for the week, but were offset by cancelations by China (334,300 MT) and unknown (192,600 MT). Old crop outstanding sales are still a record for week 36 at 22.67 MMT. Shipments are also at a record, with 45 MMT (1.773 bbu). That is 64% of USDA’s updated forecast – which was just raised 100 mbu. 

For new crop, USDA reported a season high 2.08 MMT of forward sales. Total forward commitments are 4.87 MMT, which is up 44% yr/yr. China accounts for 65% of that with 1.36 MMT on the book for 21/22 delivery. 

Jul 21 Corn  closed at $6.74 3/4, down 40 cents,

Nearby Cash  was $6.89 1/3, down 40 cents,

Sep 21 Corn  closed at $5.83, down 38 1/2 cents,

Dec 21 Corn  closed at $5.58 1/4, down 34 3/4 cents,

New Crop Cash  was $5.33 4/5, down 34 5/8 cents,




<p>Market Commentary provided by:<br /> <img src="https://s3.amazonaws.com/images1.aws.barchart.com/logos/bruglerlogo.gif" border="0" /><br /> Brugler Marketing &amp; Management LLC<br /> 1908 N. 203rd St.Omaha, NE 68022<br /> Phone: 402-697-3623<br /> Fax: 402-289-2353<br /> E-mail: <a href="mailto:alanb@bruglermktg.com">alanb@bruglermktg.com</a><br /> Web: <a href="http://bruglermarketing.com/">http://bruglermarketing.com</a></p> <p align="center"><!-- [if gte mso 9]><xml> <w:WordDocument> <w:View>Normal</w:View> <w:Zoom>0</w:Zoom> <w:TrackMoves/> <w:TrackFormatting/> <w:PunctuationKerning/> <w:ValidateAgainstSchemas/> <w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid> <w:IgnoreMixedContent>false</w:IgnoreMixedContent> <w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText> <w:DoNotPromoteQF/> <w:LidThemeOther>EN-US</w:LidThemeOther> <w:LidThemeAsian>X-NONE</w:LidThemeAsian> <w:LidThemeComplexScript>X-NONE</w:LidThemeComplexScript> <w:Compatibility> <w:BreakWrappedTables/> 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QFormat="true" Name="TOC Heading"/> </w:LatentStyles> </xml><![endif]--><!-- [if gte mso 10]> <style> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} </style> <![endif]--></p> <div class="MsoNormal" align="center"> <p>Did you know Brugler Marketing &amp; Management has more to offer to you than just this free daily commentary?! 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