Corn

Corn futures are currently fractionally higher after closing the Wednesday session with fractional to 1 3/4 cent gains. EIA Ethanol production for the week of Feb 2 averaged 1.057 million barrels per day. That is 17,000 bpd larger than the previous week. Ethanol stocks rose 23.489 million barrels, 444,000 barrels larger than the week prior. Analysts are expecting this morning’s Export Sales report to show 1.3-1.8 MMT in old crop corn sales for the week that ended Feb 1, with 0-100,000 MT seen for new crop. Very little change is expected in the US ending stocks figure in this morning’s WASDE report. The US officially exported 3.564 MMT of corn during December, down 9.47% from the December 2016 but 37.36% larger than November. On Wednesday, Taiwan purchased 55,000 MT of US corn for April-May delivery. South Korea passed on offers for 165,000 MT of optional origin corn, because in their opinion prices were too high.




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.