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Corn 8-9 Cents Lower at Midday
BRUG - Mon Jul 22, 12:12PM CDT

Corn futures are trading 8 to 9 cents lower to start the week. The Export Inspections report from USDA showed corn shipments of just 438,045 MT in the week that ended on July 18. That was a 36.56% drop from last week and less than 1/3 of the same week last year. Cooler Corn Belt temps this week are a negative, helpful as more of the crop reaches the pollination stage. This afternoon’s NASS report is expected to show steady to slightly improving conditions of the corn crop as of Sunday. Friday’s Commitment of Traders report indicated that spec traders in corn futures and options were net long 187,260 contracts as of Tuesday. AgRural estimates the Brazilian second corn crop at 67% harvested, which is well above the 36% from this week last year.

SEP 19 Corn is at $4.22 1/4, down 8 1/2 cents,

DEC 19 Corn is at $4.26 3/4, down 9 cents,

MAR 20 Corn is at $4.35 1/2, down 8 1/2 cents

MAY 20 Corn is at $4.40, down 8 cents

--provided by Brugler Marketing & Management

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