Corn 3 to 6 Cents Higher

Corn is trading 3 to 6 cents higher this morning after closing with 2+ cent gains on Wednesday. Preliminary open interest showed some net new buying, up 9,372 contracts. FSA reported 5.37 million acres of prevent planted corn, that was 60% of the total PP in this August report. ND had the largest PP corn with a state record 1.75m. Corn export sales estimates ahead of the Thursday weekly update are for 0.1 to 0.4 MMT of old crop and 0.3 to 1.0 MMT of new crop. USDA lowered the cash average corn price estimate for new crop by 25 cents per bushel yesterday to $3.10/bu. The USDA corn yield projection was 181.8 bpa. That brought production up by 278 mbu to 15.278 bbu. New crop ending stocks were less than the trade expected, at 2.756 billion bushels.

--- 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.