Corn Market News and Commentary

Corn futures ended the Friday session with most contracts 2 to 2 3/4 cents higher, with March 1.24% lower on the week. Turkey is seeking 342,000 MT of optional origin corn, with the tender due on January 18. The Chinese Ag Ministry updated their 18/19 corn crop estimate at 257.33 MMT, which is compared to 259.07 MMT last year. The Buenos Aires Grain Exchange estimates that 86.1% of the Argentine corn crop is planted, slightly below a year ago. Of the crop that is emerged, 51.1% is in gd/ex condition, compared to 29.3% last year. An updated estimate from Safras & Mercado shows Brazil’s 18/19 corn crop at 93.366 MMT, down 1.53 MMT from their prior estimate.

Mar 19 Corn closed at $3.78 1/4, up 2 cents,

May 19 Corn closed at $3.86 3/4, up 2 1/4 cents,

Jul 19 Corn closed at $3.94 1/4, up 2 cents

Sep 19 Corn closed at $3.97 1/4, up 2 1/4 cents

--provided by Brugler Marketing & Management

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