Corn Market News and Commentary

Corn futures saw 1 to 2 1/4 cent losses in most contracts on Thursday. USDA indicated that 547,962 MT of old crop corn was sold for export in the week of April 4, below the low end of estimates. That was slightly larger than last week but down 34.76% from the same week last year. Columbia was the top destination of 181,500 MT, with Israel cancelling 162,000 MT. Due to the recent lagging sales totals, total export commitments are now 9.2% below the same time a year ago. A South Korean importer purchased 60,000 MT of corn likely from the US on Wednesday. CONAB estimates released this morning put the Brazilian corn crop at 94.008 MMT, up 1.2 MMT from March mainly on a larger second crop.

May 19 Corn closed at $3.60, down 1 3/4 cents,

Jul 19 Corn closed at $3.68 3/4, down 2 cents,

Sep 19 Corn closed at $3.76 3/4, down 2 1/4 cents

Dec 19 Corn closed at $3.88 1/2, down 2 1/4 cents

--provided by Brugler Marketing & Management

Market Commentary provided by:

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