Corn Close Mostly Higher

Corn futures came back down from midday highs. The front months held on to gains and closed fractionally to a penny higher. July ’21 contracts ended UNCH at $3.49 1/2 and Sept ’21 closed fractionally lower on the day. Traders await USDA’s supply and demand updates in tomorrow’s reports. The average estimate ahead of USDA is for a 176.5 mbu bump to new crop production by way of a 180.5 bpa yield. Analysts expect that to carry through the MY with an average estimate of 2.823 bbu 2020/21 ending stocks. Old crop stocks are estimated to receive a 21.1 mbu bump. CONAB released their monthly production estimate. They raised both first and second corn crops for a net increase of 1.58 MMT to 102.142 MMT. Analysts expect USDA will leave their estimate at 101 MMT for Brazil.

Sep 20 Corn closed at $3.11 1/2, up 1 cent,

Dec 20 Corn closed at $3.23 1/2, up 1/2 cent,

Mar 21 Corn closed at $3.35 1/4, up 1/2 cent,

May 21 Corn closed at $3.43 1/4, up 1/4 cent,

--- provided by Brugler Marketing & Management




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.