Corn Market News and Commentary

Corn futures are currently 1 to 2 cents higher after ending the Wednesday session with most contracts 3 to 4 1/2 cents lower. A stronger dollar and general selling in the grains weighed on market, but a strong finish in the stock market boosted demand ideas. The weekly USDA Export Inspections report showed corn shipments of 996,098 MT during the week of 12/20, which was 12.4% larger than last week and 60.45% more than the same week a year ago. Accumulated inspections have reached 16.988 MMT (668.79 mbu) for this MY, 72.26% larger than the same point in 2017. The European Commission raised their estimate of corn production there to 67.5 MMT from only 62.9 MMT in the previous report. Annual corn imports are still expected to be 18.5 MMT, unchanged from the previous estimate.

--provided by Brugler Marketing & Management

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