Corn

Corn futures are currently 3 cents per bushel lower after posting 5 to 6 1/4 cent losses in most contracts on Tuesday. December posted a new contract low at $3.57. The USDA reported a private export sale of 113,000 MT of corn to Egypt for 2017/18 (60,000 MT) and 2018/19 (53,000 MT). They also reported a cancellation of 152,000 MT of 2017/18 sorghum to Mexico. The average trade guess for old crop US corn stocks in Thursday’s USDA S&D report is for a 13 mbu jump to 2.115 bbu. New crop US stocks are also seen higher, mainly from the increase to acreage in June 29’s Acreage report. CONAB updated their 17/18 Brazil corn production numbers with a 2.21 MMT reduction to the second crop (now 56.01 MMT), with the total crop down 2.08 MMT to 82.92 MMT. Analysts are expecting Thursday’s USDA report to show 83.2 MMT for Brazil, with Argentina at 32.7 MMT.




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.