Corn Market Commentary

Corn futures ended the Wednesday session with most contracts 1 to 2 cents in the red. This morning’s EIA report showed ethanol production in the week of 11/2 at 1.068 million barrels per day, up 9,000 bpd from the previous week. Stocks of ethanol were up 404,000 barrels at 23.150 million barrels, with the Midwest and West Coast seeing a jump. Prior to Thursday’s monthly USDA reports, analysts are expecting US corn ending stocks to drop 38 mbu to 1.775 bbu. The Export Sales report tomorrow is seen as showing 600,000-900,000 MT in 18/19 corn sales for the week of 11/1. China’s CNGOIC revised last years corn crop to 259 MMT, up 20% from previously thought! They also put the 18/19 crop at 259 MMT, well above the Ag ministry’s 213 MMT. This may cause changes to USDA world S & D table in upcoming reports and would take away the tightest since 2000 world stocks/use argument if adopted. Going into Thursday’s USDA report, analysts expected world stocks to be slightly lower at 158.82.

Dec 18 Corn closed at $3.72 1/4, down 1 cent,

Mar 19 Corn closed at $3.83 3/4, down 1 1/2 cents,

May 19 Corn closed at $3.91 1/2, down 1 1/2 cents

Jul 19 Corn closed at $3.97 1/2, down 1 1/4 cents

--provided by Brugler Marketing & Management




Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!


Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.