CHICAGO CORN MARKET was up 0.3% today. US corn harvest is in full gear and might finish around the last week of October. Brazil’s corn export in September was 6.4 MILLION TONS vs 8.7 MILLION TONS, last September.
USDA reported another private corn export of 155K TONS to MEXICO today. Mexico is now becoming No1 importer of US grains this year. COT report shows NET SHORT positions at 67,699 LOTS. That’s the smallest NET SHORT positions in CORN MARKET since August 2023. Brazil’s AgRural reported 37% of new crop corn planted as of the last week.
CHICAGO WHEAT MARKET was up today. SRW PRICE was up 0.5%, HRW PRICE was up by 0.9% and HRS PRICE was up 1.0%. Over the weekend, Russian attacked Ukraine corn loaded vessel by drones at Ukraine port. COT report shows still NET SHORT positions of 22K LOTS in CME WHEAT and 15K LOTS in KCBT WHEAT. Yes, funds are still in net short positions. Russians are keep selling their wheat positions to their classic customers, such as Saudi Arabia over the weekend and Bangladesh is preparing to buy 60K tons this week. US have another Hurricane this week and will spread good amount of rains over the dry winter wheat regions.
