Corn Market News and Commentary

Corn futures are down 4 to 6 1/4 cents in most contracts on Thursday. This morning’s Export Sales report indicated that 969,742 MT of old crop corn was sold in the week of 2/28, with 280,900 MT for new crop. Total sales were on the high side of estimates but down 35.13% from this week in 2018. Mexico was the lead buyer of 375,300 MT (and all of new crop), with Japan buying 306,700 MT. China did purchase a cargo of US sorghum in that week, the first since last August. Trade estimates ahead of tomorrow’s monthly USDA update show Brazil corn production slightly higher at 94.66 MMT, with Argentina at 45.92 MMT.

Mar 19 Corn is at $3.57, down 5 1/2 cents,

May 19 Corn is at $3.66 1/4, down 6 1/4 cents,

Jul 19 Corn is at $3.75 1/4, down 5 3/4 cents

Sep 19 Corn is at $3.81 3/4, down 5 3/4 cents

--provided by Brugler Marketing & Management




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