Corn Market News and Commentary

Corn futures are feeling pressure from the rest of the grain complex, showing losses of 3 to 4 1/4 cents at midday. The delayed Export Sales report this morning showed that old crop sales in the week of January 3 at 459,822 MT. That was down from the week prior but still 5% above the same New Year’s week last year. Thus far in February, the average close for December 2019 corn is $4.01 1/2. The average close throughout the month is used to calculate the Spring Crop Insurance price, with last year at $3.96. Argentina’s corn production projection was increased by 2.5 MMT to 46.5 MMT by the Rosario Grain Exchange, slightly above USDA’s 46 MMT.

Mar 19 Corn is at $3.74 1/2, down 4 1/4 cents,

May 19 Corn is at $3.82 3/4, down 4 cents,

Jul 19 Corn is at $3.90 1/2, down 4 cents

Sep 19 Corn is at $3.93 3/4, down 3 1/2 cents

--provided by Brugler Marketing & Management




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