Corn Market News and Commentary

Corn futures are trading 1 to 2 cents lower in most contracts on Monday. The weekly USDA Export Inspections report showed 743,536 MT of corn was shipped in the week of February 7. That was a drop of 17.5% from the week prior and 12.17% lower than the same week in 2018. Among the numerous 18/19 US balance sheet revisions on Friday, USDA slashed the feed and residual number by 125 mbu to 5.375 bbu as well as trimming the ethanol usage number by 25 mbu. Their average farm price estimated range was narrowed by 20 cents, with the mid-point still at $3.60.

Mar 19 Corn is at $3.72 3/4, down 1 1/2 cents,

May 19 Corn is at $3.80 3/4, down 1 1/2 cents,

Jul 19 Corn is at $3.88 1/4, down 1 3/4 cents

Sep 19 Corn is at $3.91 3/4, down 1 3/4 cents

--provided by Brugler Marketing & Management




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