Corn futures are trading fractionally higher this morning after they closed 1/4 to 1 1/2 cents lower on Friday. The exception is nearby March, down a penny. March was up 11 cents per bushel for the week. Total commitments for corn exports are now just 8% behind last year, gaining 2.5% since last week. The Buenos Aires Grain Exchange put Argentine corn crop conditions at 5.5% good with 76.4% rated as poor/very poor. They left their production estimate at 37 MMT for the 17/18 crop. Consultant Informa is projecting 33.5 MMT. A Bloomberg survey found that trade average guess was 36.5 MMT. The average expectation for Brazil was 91.6 MMT vs. the February USDA figure of 95 MMT.

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