Corn futures are trading fractionally higher this morning. They closed 6 to 8 3/4 cents higher on Tuesday. Dec hit the highest price since mid-August yesterday. Heavy snow is expected in the Dakotas and Minnesota late this week. Weekly Crop Progress data indicated 61% of the crop in MN not yet to black layer. The Dakotas have 78% (ND) and 64% (SD) of corn yet to mature. Those states account for 17.67% of the 2019 planted acreage. Traders are expecting the USDA October yield projection on Thursday to drop 0.7 bpa to 167.5 bpa with a range of estimates from 159-169 bpa. With that assumed yield reduction and an estimated 0.5 million acre cut to harvested acreage, analysts expect production to drop on average by 211 mbu to 13.88 bbu. Any freeze damage this week or next week would be calculated in future reports.
-- provided by Brugler Marketing & Management