Corn

Corn futures are showing fractional to 1 1/4 cent gains at midday. More than 85% of the GA corn crop had already been harvested as of a week ago, so flooding of grain storage is the main concern there rather than field exposure. The Crop Progress report will be out later today. In general the trade is looking for lower crop ratings tonight because of dry conditions in the Corn Belt. This morning’s USDA Export Inspections report indicated corn shipments of 662,173 MT. That is 19% lower than last week and 30.62% behind last year.Analysts are expecting the USDA to show new crop world ending stocks nearly 3 MMT lower than August at 197.8 MMT.

Sep 17 Corn is at $3.45 1/2, up 1 1/4 cents,

Dec 17 Corn is at $3.57 1/4, up 1/2 cent,

Mar 18 Corn is at $3.69 3/4, up 3/4 cent

May 18 Corn is at $3.77 1/4, up 1/2 cent




Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

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