Corn futures closed the day with gains of 1 to 2 cents, as Dec lost 1.36% on the week with the help of Thursday’s report. The USDA corn yield estimate has moved +5.9 bpa since the August report. NE (-2) and MI (-1) were the only major producing states that showed a reduction in yield in November’s report. Total export commitments are now 21.67% lower than this time last year, gaining 5.19% over the last week. The Buenos Aires Grain Exchange estimates that the Argentina corn crop is 35% planted, up slightly over last week’s 33.9%. The CFTC Commitment of Traders report will be delayed until Monday, in observance of Veteran’s day on Saturday.

Dec 17 Corn closed at $3.43 1/2, up 2 cents,

Mar 18 Corn closed at $3.56 3/4, up 2 cents,

May 18 Corn closed at $3.65 1/4, up 1 3/4 cents

Jul 18 Corn closed at $3.73, up 1 1/2 cents

Market Commentary provided by:

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