Corn Market Commentary

Corn futures saw a little bit of profit taking on Tuesday, with fractional losses in most contracts. NASS reported that most of the states along the WCB are still lagging normal harvest progress, with the ECB above average. The weekly EIA report will be released on Wednesday showing ethanol production for the week of 11/2. Ahead of Thursday’s USDA reports, analysts are expecting NASS to show the national average corn yield at 180 bpa, down 0.7 from October. They also estimate a slight reduction to harvested acreage, bringing total production to 14.721 bbu, down 57 mbu from last month.

Dec 18 Corn closed at $3.73 1/4, down 3/4 cent,

Mar 19 Corn closed at $3.85 1/4, down 1/2 cent,

May 19 Corn closed at $3.93, down 3/4 cent

Jul 19 Corn closed at $3.98 3/4, down 3/4 cent

--provided by Brugler Marketing & Management

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