Corn Market Commentary

Corn futures are trading fractionally lower this morning. They ended the Tuesday session down 1 to 2 cents in most contracts, with traders squaring positions ahead of the Thursday reports. Tuesday’s USDA Export Inspections report showed 1.351 MMT shipped for the week ending October 4. That was more than double the same week last year but slightly lower than the previous week. Accumulated exports since 9/1 are now 5.806 MMT and 62.1% larger than this time last year. The USDA Crop Progress report indicated that 93% of the US corn crop was mature as of 10/7. Harvest was 34% complete as of Sunday, with the normal pace at 26%. Condition ratings were down 1% to 68% in the good/ex categories, with the Brugler500 index down 2 at 373.

--provided by Brugler Marketing & Management (402) 289-2330

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