Corn

Corn futures are trading to 1 cent per bushel higher this morning. They closed 1 to 2 cents higher on the first trading session of the new year. The USDA weekly Export Inspections report showed very typical holiday week shipping of 683,898 MT. Last year it was 638,577 MT for the same week. Soil moisture is expected to decline in southern Brazil, Argentina and Uruguay over the next week, driven by higher temps and limited rainfall during pollination. The USDA Grain Crush report showed 525 million bushels of corn used for ethanol and other industrial uses in November. Of that, 475.7 million went to fuel ethanol production, which was up 1.2% from October and up 5.2% from November 2016.




Market Commentary provided by:

Brugler Marketing & Management LLC
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