Corn

Corn futures are showing 3 to 4 1/2 cent gains in most nearby contracts on Wednesday. Data from the FSA shows 964,596 prevent plant acres for corn in their final acreage survey report. That was down 8.33% from the January 2017 report and is the fewest number of acres since 2012. The weekly EIA report will be delayed until Thursday, due to Monday’s holiday. South Korea purchased 137,000 MT of corn on Wednesday, with the optional origin source likely from the US or South America. Despite forecasts of rains, producers in Brazil don’t expect a huge reduction in corn acreage for the second crop. With the slower soybean crop, corn planting could be delayed beyond the ideal time.

Mar 18 Corn is at $3.52 1/2, up 4 1/4 cents,

May 18 Corn is at $3.60 1/2, up 3 3/4 cents,

Jul 18 Corn is at $3.68 3/4, up 3 3/4 cents

Sep 18 Corn is at $3.76 1/4, up 3 1/2 cents




Market Commentary provided by:

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