Corn Recovers Thursday Losses Before Weekend

Corn futures came all the way back from the Thursday sell off, and even gained some ground with futures closing 13 3/4 to 9 3/4 cents higher. March corn was 3 1/2 cents higher on the week. Rumors of Chinese purchases appeared right on schedule after the Thursday break. The Friday bulls will be looking for official confirmation on Monday. The CFTC released their Commitment of Traders report Friday afternoon showing spec trader positions were net short corn by 78,442 contracts on Tuesday Jan 14th. That was a weekly weakening of their position by 2,445 contracts, and weekly increase of 40,811 in spec trader open interest.

Mar 20 Corn closed at $3.89 1/4, up 13 3/4 cents,

May 20 Corn closed at $3.95 1/4, up 12 3/4 cents,

Jul 20 Corn closed at $4.01, up 12 cents,

Sep 20 Corn closed at $4.00 1/4, up 9 3/4 cents,

--- provided by Brugler Marketing & Management

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.