Corn Market News and Commentary

Corn futures are currently to 1 cent per bushel lower after posting fractional to 1 1/2 cent gains in most contracts on Tuesday. The Quarterly Grain Stocks report on Friday is expected to show 12.092 bbu of corn on hand on Dec 1 according to a Reuters survey. That would be down 475 mbu from last Dec 1 if realized. Final 2018 production numbers are estimated to see a yield of 177.9 bpa, down 1 bpa from the November update. Weekly ethanol stocks and production data will be updated on Wednesday from the EIA. USDA confirmed this week that 1.930 MMT of DDGs were produced in the US during November. That was down from 1.997 MMT a year ago and again illustrates the impact of late 2018 ethanol plant shutdowns in the face of poor margins.

--provided by Brugler Marketing & Management




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