Corn Market Commentary

Corn futures closed Wednesday with losses of 1 to 2 cents, on profit taking ahead of Thursday’s USDA reports. The USDA Crop Progress report indicated that all of the 18 reported states were above their normal harvest pace as of Sunday, with IA only moving 4% on the week to 15%. Condition ratings in IA dropped 11 points, with NE down 5, IN 3 points lower and MN down 2. The weekly EIA report is delayed until Thursday due to Monday’s federal holiday. Thursday’s monthly USDA report is expected to show world corn carryout for 18/19 at 159.2 MMT, up 2.17 MMT from September.

DEC 18 Corn closed at $3.62 3/4, down 1 3/4 cents,

MAR 19 Corn closed at $3.74 3/4, down 1 3/4 cents,

MAY 19 Corn closed at $3.82, down 1 1/2 cents

JUL 19 Corn closed at $3.87 3/4, down 1 1/4 cents

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

Market Commentary provided by:

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