Corn Market News and Commentary

Corn futures are trading roughly 1 cent per bushel higher to begin their Friday. They were down 2 to 4 cents in most contracts yesterday. The delayed Export Sales report 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 1/4. The average close throughout the month is used to calculate the Spring Crop Insurance price, with last year at $3.96. The group that used to be Informa raised their 2019 US corn acreage estimate slightly to 91.591 million acres on Thursday. 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.

--provided by Brugler Marketing & Management




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