Corn Market News and Commentary

Corn futures are steady to 1 1/4 cents lower in the front months, with new crop contracts steady to 3 cents higher. The monthly USDA Grain Crushings report 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. Brazil’s Trade Ministry pegged March corn exports at 891,945 MT, which was up 47.36% from the same time last year and 49.4% lower than February. FCStone estimates the Brazilian corn crop at 94.39 MMT, up 0.55 MMT from their prior number.

May 19 Corn is at $3.60 1/2, down 1 1/4 cents,

Jul 19 Corn is at $3.70, down 1 cent,

Sep 19 Corn is at $3.78 1/2, down 3/4 cent

Dec 19 Corn is at $3.88 3/4, unch

--provided by Brugler Marketing & Management




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