Corn Market News and Commentary

Corn futures are trading 2 cents higher here on Friday morning. They ended the Thursday session with most contracts 5 to 5 3/4 cents lower. There was some modest selling interest, with preliminary open interest rising 4,497 contracts on the decline. USDA will not update their monthly reports today due to the partial government shutdown. CONAB projected Brazil’s corn crop will be 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.

--provided by Brugler Marketing & Management

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