H&B Specialties, Inc. -

Corn Fades Afternoon Closes in Red

Alan Brugler - Barchart - Fri Dec 04, 10:39PM UTC

Afternoon trading pushed corn even lower as futures head into the weekend with 5 1/2 to 6 cent losses. March contracts were down 8 1/2 cents for the week. USDA reported a large export sale of 182,020 MT of corn to Mexico under the daily reporting system. Official Census corn shipments were 145.03 mbu in October. That was 60% above 2019, but down from 149.7 mbu in September as soybeans competed for fobbing capacity. DDGS exports were a 9 year low for the month of October with 951,500 MT shipped. Ethanol exports from October, on the other hand, were a 2-yr high with 126.5m gallons shipped. Census data showed 247,041 MT of sorghum was shipped in October, which was a 5-yr high for the month. CFTC data showed long liquidation coupled with new spec shorts, for a net reduction of 16,966 contracts to the spec net position last week. Corn specs were still 270,633 contracts net long on 12/1.

Dec 20 Corn closed at $4.17, down 5 1/2 cents,

Mar 21 Corn closed at $4.20 1/2, down 6 cents,

May 21 Corn closed at $4.23 1/4, down 5 1/2 cents,

Jul 21 Corn closed at $4.24, down 5 1/2 cents,

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