Corn Lower on Friday
BRUG - Fri Aug 23, 5:09PM CDT

Corn futures were cents 2 1/4 to 3 1/2 cents lower at Friday’s close. The Pro Farmer Midwest Crop Tour reported a projected a total corn yield of 163.3 bpa, with production at 13.358 bbu on 81.8 million harvested acres. For the week speculators in corn futures and options bailed on the net long position by 100,954 contracts to a net short position of 56,441 contracts on Tuesday. China announces an additional 10% tariff on US corn and sorghum as of Dec 15. While China has not been a large importer of corn recently, the loss of potential ethanol, DDGs and sorghum buying is being felt. China on Friday threatened to raise tariffs another 10% on US wheat, corn and sorghum effective December 15.

SEP 19 Corn closed at $3.59 3/4, down 3 1/2 cents,

DEC 19 Corn closed at $3.67 3/4, down 3 1/4 cents,

MAR 20 Corn closed at $3.80, down 3 cents

MAY 20 Corn closed at $3.88 1/2, down 2 1/4 cents

-- provided by Brugler Marketing & Management

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