French Camp Grain Company, Inc. -

Corn in Black at Close

Alan Brugler - Barchart - Thu Oct 22, 9:28PM UTC

Thursday corn trading left futures 1 1/4 to 2 1/2 cents higher in the front months. The 2021/22 crop contracts closed 1 1/4 to 3 cents in the red. Barchart’s cmdtyView corn yield and production forecasts were updated. Estimated yield is now at 179.77, up 1.54 bpa, and production is 15.275, up 156 mbu. USDA’s weekly Export Sales report showed that 1,831,566 MT (72 mbu) were sold on the week ending 10/15. That was above the range of pre-report estimates, up 180% on the week and 273% above the same week last year. Japan and China were the top buyers on the week with 490,100 and 433,500 MT respectively. Total export commitments are 1.116 bbu through the first 7 weeks of the MY. That is 48% of USDA’s forecast for the full year, compared to the same week last year when accumulated commits were 23% of the Oct forecast. Milo sales set a MY high of 280,804 MT. China and unknown were the exclusive sorghum buyers on the week, and China was the only destination for the 70,100 MT shipped. USDA’s Ag Attache sees lower yield in Ukraine, reducing production by 17% compared with USDA’s official estimate. The Ag Attaché sees Ukraine’s beginning supply at 33.167 MMT, compared to 39.563 MMT from the October WASDE. FAS Kyviv sees Ukraine 2020/21 ending stocks 696k lighter than USDA’s official, at 867,000 MT.

Dec 20 Corn closed at $4.16 1/4, up 2 1/2 cents,

Mar 21 Corn closed at $4.18 1/4, up 1 1/2 cents,

May 21 Corn closed at $4.19 3/4, up 1 1/4 cents,

Jul 21 Corn closed at $4.19 1/4, up 1 1/4 cents,

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