Corn futures closed the Monday session 1 to 2 cents lower. The USDA Export Inspections report showed corn shipments of a very slow 375,951 MT during the week of November 9. That is 45.12% lower than this time last year and 17.62% below the previous week. This afternoon’s Crop Progress report showed the US corn harvest 83% complete as of Sunday, lagging the average of 91%. Total export commitments have filled 39.66% of the current USDA export projection, compared to 47% last year and the average of 43%. The Monday edition of the CFTC Commitment of Traders report showed spec funds in corn futures and options adding 2,861 to their net short position of 205,624 contracts on 11/7.

Dec 17 Corn closed at $3.42 1/4, down 1 1/4 cents,

Mar 18 Corn closed at $3.55, down 1 3/4 cents,

May 18 Corn closed at $3.63 1/2, down 1 3/4 cents

Jul 18 Corn closed at $3.71 1/4, down 1 3/4 cents

Market Commentary provided by:

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