Corn futures saw gains of 1 to 2 cents today. The USDA Export Inspections report indicated that 947,642 MT of corn was shipped during the week of 3/1. That was a drop of 28% from the previous week and down 34.65% from the same week in 2017. YTD exports of 18.914 MMT is lagging the same time in 2017 by 30.87%. Shipments will need to pick up to meet the current USDA projection. As of last Tuesday, managed money held a net long position of 59,120 contracts, moving 40,446 contracts to the long side since the previous week.

Mar 18 Corn closed at $3.78 1/4, up 1 cent,

May 18 Corn closed at $3.87 1/4, up 2 cents,

Jul 18 Corn closed at $3.94 1/2, up 2 cents

Sep 18 Corn closed at $4.00, up 2 1/4 cents

Market Commentary provided by:

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