Futures have been trading in both directions early on Friday but are 1 1/4 to 2 1/4 cent in the red at midday. 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. Private exporters sold 264,000 MT of corn to China. Total US export commitments were 969.34 mbu on 9/24, which is 154% above the same week last year. Of the total commitments, 40.4% are China and 17.7% are to Mexico with 392 mbu and 171 mbu respectively. USDA reported corn use for ethanol in August was 411.08 mbu. That leaves 2019/20 total corn use for ethanol at 4.8525 billion bushels, just a smidge below USDA’s Sept WASDE estimate of 4.855 billion. Brazilian corn exports were 6.6 MMT for September, up 160k from Sept ’19.

--- provided by Brugler Marketing & Management