Corn Market News and Commentary

Corn futures ended the Thursday session with most contracts 5 to 5 3/4 cents lower. USDA will not update their monthly reports in Friday due to the government shutdown. An update from Brazil’s CONAB this morning put the country’s corn crop at 91.19 MMT, up slightly from their December number on a larger first crop. Agroconsult is well above Brazil’s government agency (CONAB) at 95.6 MMT. Argentina’s corn crop estimate from the Rosario Grain Exchange was hiked from their prior range of 42-43 MMT to 44 MMT. A South Korean feed importer purchased 69,000 MT of optional origin corn on Thursday.

Mar 19 Corn closed at $3.76 1/4, down 5 3/4 cents,

May 19 Corn closed at $3.84 1/2, down 5 1/2 cents,

Jul 19 Corn closed at $3.92 1/4, down 5 1/4 cents

Sep 19 Corn closed at $3.95, down 5 cents

--provided by Brugler Marketing & Management

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