Corn futures were fractionally lower today, trying to size up harvest pressure and also the trade expectations for Friday’s WASDE report. After the close, USDA’s Crop Progress report said 25% of the 2020/21 corn crop was picked as of October 4. Corn conditions improved 1% good/ex to generate a 359 on the Brugler500 index. Milo harvest was even with the 5-yr average at 38% cut. FranceAgriMEr said the French corn harvest was 32% complete, up from 15% LW. In Ukraine 18% of corn has been picked so far, yielding 4.47 MMT. USDA announced a large export sale for 160,020 MT of corn to Mexico this morning. The weekly Export Inspections report showed 34.014 mbu of corn were shipped on the week ending 10/01. That was 15.38 mbu above the same week in 19/20. China was the top destination for the week’s shipments with 40% of the total. MYTD corn exports are 144.4 mbu through the first 5 weeks, up 81% yr/yr.

--- provided by Brugler Marketing & Management