Corn Market News and Commentary

Corn futures are showing 3 to 4 cent gains in most contracts on Tuesday. IEG Vantage (previously known as Informa) raised their 2019 corn planning estimate by 180,000 acres to 91.771 million acres. Brazil’s corn output estimate for 18/19 was increased by 1.155 MMT to 92.807 MMT according to CONAB numbers. Most of that jump was due to a larger projected second crop at 66.596 MMT. That is still below the USDA forecast from last Friday. A couple South Korean tenders saw purchases of a total of 128,000 MT of optional origin corn on Tuesday.

Mar 19 Corn is at $3.55 3/4, up 3 1/4 cents,

May 19 Corn is at $3.65 1/4, up 3 1/4 cents,

Jul 19 Corn is at $3.75, up 3 1/2 cents

Sep 19 Corn is at $3.82, up 3 3/4 cents

--provided by Brugler Marketing & Management




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