Futures are trading 4 cents lower this morning. President Trump has tested positive for the coronavirus, prompting a flight to cash ahead of the weekend due to uncertainty about the eventual severity of the disease. USDA reported corn use for ethanol in August was 411.08 mbu. That was down 3.1% from July and down 9.6% yr/yr. The marketing year corn use for ethanol was 4.8525 billion bushels. That is just a smidge below USDA’s Sept WASDE estimate of 4.855 billion. The Export Sales report had corn bookings from the week ending 09/24 of 2.027 MMT. USDA’s daily reporting system had already covered 38% of that with 3 previously announced sales; nonetheless, sales were still well above expectations and 260% above the same week last year. Four of the last 5 weeks have seen more than 2 MMT of 2020/21 corn sales. Total commitments are 969.34 mbu, which is 154% above the same week last year. Brokerage firm StoneX sees a 14.942 bbu corn crop on a 179 bpa average US yield. That is down 0.6 bpa from their previous forecast.

--- provided by Brugler Marketing & Management