Corn Market 2 to 3 Cents Higher

Corn futures are trading 2 to 3 cents higher this morning on some bargain hunting. They were down 10 to 19 1/4 cents in the front months on Tuesday. Monday’s WASDE report showed reduced estimated corn FSI (from ethanol) use by 25 mbu in both 18/19 and 19/20. That, along with a 100 mbu reduction for 19/20 exports, contributed to an increase in both old and new ending stock estimates. Monday’s crop ratings by state saw IL down 2 points on the Brugler500 scale, with IN 10 lower and IA down 3. Ratings in NE (+7), MO (+4), and SD (+1) were all reported higher. Parts of the WCB are expected to receive significant rainfall over the next 7 days while the ECB sees more limited quantities. --provided by Brugler Marketing & Management




Market Commentary provided by:

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