Corn Market Lower on Brief Drying Window

Corn futures are trading 2 to 4 cents lower this morning. They ended the Thursday session with most contracts 3 to 5 3/4 cents higher, as strength in wheat was supportive. The USDA showed abysmal old crop corn export sales in the week of May 30, with a net reduction of 8,788 MT. This was also the week nearby corn was at a 3-year high, with US competitiveness dropping. New crop sales totaled just 23,458 MT. Monthly export data from Census indicated 5.472 MMT (215.43 mbu) of corn were shipped in April, up 14.7% from March but 29.04% lower yr/yr. A Bloomberg survey found the average analyst estimate for 2019/20 corn ending stocks in the June 11 report dropping to 1.772 billion bushels from the May USDA figure of 2.485 billion.

--provided by Brugler Marketing & Management




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

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!


Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.