Corn
Corn futures are trading fractionally higher this morning after closing 2 1/4 to 3 1/2 lower on Wednesday. The weekly EIA report is delayed until this morning. Harvest progress across most of the Corn Belt is lagging the average pace, with IA only 8% complete and IL 38% harvested. The national average basis is 2 cents weaker than one year ago, due to larger carryover stocks. Cash prices are on average one cent higher. Condition ratings in NE were down 4 points this week in the Brugler500 Index, as IA was up 3 and IL improved 9 points. Analysts are expecting to see a 0.56 MMT drop in world ending stocks for 17/18 to 201.91 MMT in this morning’s USDA report. Celeres expects the Brazil 17/18 first season corn crop production to drop to 28.1 MMT, as acreage is expected to be trimmed 15.3% to 13.42 million acres.



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

First you raise it, then you market it!  Check out the full Brugler advisory service with this special Harvest 2Fer offer at  http://bit.ly/Harvest2Fer.


 

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.