Corn Market News and Commentary

Corn futures are currently 1/4 to 1 3/4 lower after ending Wednesday with most contracts 2 to 3 1/2 cents lower. The weekly EIA report indicated ethanol production down 4,000 barrels per day at 1.024 bpd for the week of 3/1. Ethanol stocks were a bearish 24.261 million, up 552,000 barrels wk/wk and the second largest on record. Delayed Census trade data from December showed exports of 4.345 MMT (171.06 mbu) of corn in that month. That was down 14.88% from November but 22.1% larger than last year. Exports this MY (through Dec) were 803 mbu and up 64.5% from last year. Ethanol exports totaled 139.78 mgal, with DDGs at 890,491 MT (smallest since Feb 2018). The full year DDG exports were the largest since 2015, and the 2018 ethanol exports were record large. Mexico is contemplating implementing new tariffs on US corn and poultry imports, because the US tariffs on Mexican steel are still in place. Trade estimates range from 0.7-1.1 MMT in old crop corn export bookings for the week of 2/28, with new crop at 100,000-300,000.

--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.