Corn Market Commentary

Corn futures are trading as much as 1 cent per bushel lower this morning. They saw some light selling interest on Tuesday, with fractional losses in most contracts. Preliminary open interest rose 555 contracts. NASS reported that most of the states along the WCB are still lagging normal harvest progress, with the ECB ahead of average but suffering some wetter weather now. 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 the average guess for total production to 14.721 bbu, down 57 mbu from last month.

--provided by Brugler Marketing & Management

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