Corn Market Slightly Higher Ahead of USDA Reports

Corn futures are trading 1 to 2 cents higher this morning. They were fractionally to 2 1/4 cents lower. Weekly EIA data showed ethanol production during the week that ended on September 6 at 1.023 million barrels per day. That was up 10,000 bpd from the week prior. Ethanol stocks were down a sharp 1.302 million barrels to 22.499 million barrels, with all regions but the West Coast lower. USDA is expected to show new crop corn sales of 500,000-900,000 MT during the week of 9/6 in the weekly Export Sales report. Ahead of today’s WASDE update, analysts are expecting USDA to increase old crop corn world carryout by 0.75 MMT to 329.33 MMT, mainly on an increase in the US number. The average guess for new crop carryout seems to be around 303.2 MMT, down 4.52 from August.

-- 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.