Corn Market News and Commentary

Corn futures are feeling pressure from the rest for the grain complex at midday, down 3 to 4 1/2 cents. Delayed Census trade data from December showed exports of 4.345 MMT (171.06 mbu) of corn in that month. That was down 14.88% from November but 22.1% larger than last year. Exports this MY (through Dec) are at 803 mbu up 64.5% from last year. Ethanol exports totaled 139.78 mgal, with DDGs at 890,491 MMT. Mexico is contemplating implementing new tariffs on US corn and poultry imports, because the US tariffs on Mexican steel are still in place. South Korean importers purchased a total of 137,000 MT of option origin corn in private tenders on Wednesday.

Mar 19 Corn is at $3.61 1/2, down 4 1/2 cents,

May 19 Corn is at $3.71 1/4, down 4 1/2 cents,

Jul 19 Corn is at $3.80 1/4, down 4 1/4 cents

Sep 19 Corn is at $3.86 1/4, down 4 cents

--provided by Brugler Marketing & Management




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