Corn futures are trading 4 to 5 1/2 cents higher in most contracts on Tuesday. The USDA reported a private export sale of 122,376 MT of corn for 18/19 delivery to unknown destinations this morning. CONAB is expected to release their February crop update for Brazil today. A couple South Korean tenders on Tuesday saw a total of 203,000 MT of optional origin corn purchased by importers. CONAB released their latest corn production estimates for Brazil, with the total crop up 462,000 MT from Jan now at 91.652 MMT. That was the cause of a larger projected second crop with the first crop 1 MMT lower.
Mar 19 Corn is at $3.78, up 5 1/4 cents,
May 19 Corn is at $3.86 1/4, up 5 1/2 cents,
Jul 19 Corn is at $3.93 3/4, up 5 1/4 cents
Sep 19 Corn is at $3.96 3/4, up 4 3/4 cents
--provided by Brugler Marketing & Management