Corn Lower at Midday

Corn futures are 3 to 4 1/2 cents lower at midday. The Pro Farmer Midwest Crop Tour finished up in Minnesota yesterday, with the national Pro Farmer estimate set to be released at 1:30 p.m. CDT. The Minnesota tour average yield was 170.4 bushels per acre, with Iowa at 182.8 bpa. China announces an additional 10% tariff on US corn and sorghum as of Dec 15. While China has not been a large importer of corn recently, the loss of potential ethanol, DDGs and sorghum buying is being felt. China on Friday threatened to raise tariffs another 10% on US wheat, corn and sorghum effective December 15. Reuters reported spot bids for corn from ethanol plants in the Midwest at steady or higher.

SEP 19 Corn is at $3.59, down 4 1/4 cents,

DEC 19 Corn is at $3.66 1/2, down 4 1/2 cents,

MAR 20 Corn is at $3.78 3/4, down 4 1/4 cents

MAY 20 Corn is at $3.87, down 3 3/4 cents

-- provided by Brugler Marketing & Management




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