Corn Market News and Commentary

Corn futures settled 2 to 5 1/4 cents higher today. The debate continues about the number of acres likely to be lost to flooding in the WCB, as well as the number of bushels ruined in flooded grain bins and elevator piles. Weekly export inspections were much improved (+26%) from the previous week at 1.259 MMT but lagged the same week in 2018 by 186,000 MT. Shipments YTD are 5.1 MMT larger than last year (200.8 million bushels). The monthly USDA Grain Crushings report this afternoon confirmed corn use for ethanol totaled 402.9 million gallons in February. That was down 9.3% from January (with 3 fewer run days) and down 7.1% vs. year ago. YTD corn use for ethanol is 121 million bushels below last year.

May 19 Corn closed at $3.61 3/4, up 5 1/4 cents,

Jul 19 Corn closed at $3.71, up 4 3/4 cents,

Sep 19 Corn closed at $3.79 1/4, up 4 1/4 cents

Dec 19 Corn closed at $3.88 3/4, up 4 cents

--provided by Brugler Marketing & Management




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