Corn Starts Week Higher on Spec Short Covering
BRUG - Mon Apr 15, 7:59AM CDT

Corn futures are 2 to 2 1/2 cents higher to start your Monday. They ended the Friday session in positive territory although May was down 1 1/2 cents on the week. CFTC data showed money managers posting another record large net short position in corn futures and options of 271,746 contracts as of Tuesday. That was 25,011 contracts larger than the previous week. Even with a reduction in the WASDE forecast on Tuesday, total export commitments are just 75% of the 2.3 bbu projection vs. the average of 84%. Most of that can be blamed on the lack of unshipped sales, as exports are already 53% of USDA’s number, 2% ahead of the average. BAGE pegged the Argentine corn harvest at 21.2% complete on 4/10, 2.1% above normal but lagging 3.5% from last year. --provided by Brugler Marketing & Management




Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!


Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.