Corn

Corn futures are currently 1 to 1 1/2 cents lower after closing steady to fractionally higher in most contracts on Thursday. The morning’s Export Sales report showed export shipments for the week of Feb 1of 961,200 MT. That is 8.1% lower than the previous week and lags the same week last year by 14.54%. Along with increasing expected exports 125 million bushels in the WASDE report, the USDA also raised the range for the cash average price to $3.05-3.55, with a mid-point 5 cents higher @$3.30. Thanks to the 3 MMT reduction in Argentine corn production, the US and Brazil’s exports were both raised. The USDA is most likely waiting until Brazil’s winter corn crop is planted before it is willing to cut production and put it in line with private and Brazilian government estimates.




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.