Corn Market Commentary

Corn futures are mostly 1 cent per bushel lower this morning. They closed an uneventful Wednesday session with most contracts steady to fractionally lower. News on Wednesday was limited due to the government shut down. The weekly ethanol production and stocks update will be released this morning. Ahead of next Tuesday’s monthly S&D update, analysts are expecting US corn 18/19 carryout at 1.738 bbu, just 2 mbu more than their November projection. DTN reported a national average cash price of $3.45 1/2 on Tuesday evening, 36 cents higher than a year ago. That put the national average basis level at -26 3/4 cents, the strongest this marketing year (MY).

--provided by Brugler Marketing & Management

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