Corn Market News and Commentary
BRUG - Fri Feb 08, 12:16PM CST

Corn futures are showing 1 to 2 1/4 cent losses at midday, despite some bullish news from the USDA. This morning’s onslaught of USDA reports saw 2018/19 US yield slashed by 2.5 bpa to 176.4 bpa, which dropped production to 14.420 bbu. After several balance sheet revisions, 18/19 ending stocks were trimmed by 46 mbu to 1.735 bbu. The quarterly Grain Stocks report showed Dec 1 corn stocks at 11.952 bbu, which is down 4.89% from last year and 140 mbu below the average trade estimate. On the bear side, world ending stocks are projected at 309.78 MMT, up 1 MMT from the Dec number. USDA left the Brazil production number at 94.5 MMT, with Argentina at 46 MMT, up 3.5 MMT. Ukrainian firm ProAgro estimates that the country’s 2019 corn crop will be at 31.2 MMT, down 4.4 MMT from last year.

Mar 19 Corn is at $3.74 1/4, down 2 1/4 cents,

May 19 Corn is at $3.82, down 2 1/4 cents,

Jul 19 Corn is at $3.90, down 2 1/4 cents

Sep 19 Corn is at $3.93 1/2, down 1 3/4 cents

--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.