Corn

Corn futures are to 1 lower this morning, seeing a little profit taking ahead of year end. They closed higher for the sixth consecutive session on Wednesday, as March has risen 6 3/4 cents in that timeframe. As of Tuesday evening, the national average cash corn price was $3.15 1/4 according to the DTN national corn index. That is 2 1/4 cents lower than the same day last year, as the basis, at -37 1/2 cents, is even with a year ago. The weekly EIA report will be delayed until Thursday morning due to the shortened holiday week. Last week’s report showed the week of 12/15 production 1.077 million bpd, which was the third largest weekly production only behind the prior two weeks. Consultant Michael Cordonnier is sticking with his 88 MMT forecast for Brazilian corn production, with Argentina at 42 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

First you raise it, then you market it!  Check out the full Brugler advisory service with this special Harvest 2Fer offer at  http://bit.ly/Harvest2Fer.


 

Did June and July leave you with painful grain marketing memories?
Contact Brugler TODAY to discover which of our services is the right prescription for you!
Request product samples and a quick tour of our services here.

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.