Corn Market News and Commentary

Corn futures ended the Thursday session with most contracts 2 to 4 3/4 cents higher. Corn in flooded grain bins is considered contaminated and cannot be sold commercially. Numerous on farm bins and some commercial ground piles have been flooded. NASS is unlikely to be able to quantify such losses until the June stocks report. Forecasts are showing moisture among already flooded areas in the coming weeks, furthering the ideas of prevent plant acres. This morning’s USDA Export Sales report indicated that 855,944 MT of old crop corn was booked in the week of 3/14, with 60,000 MT for new crop. Combined sales were down 37.08% from the same week a year ago. Japan was the main purchaser of 406,800 MT for combined old and new crop.

May 19 Corn closed at $3.76 1/4, up 4 3/4 cents,

Jul 19 Corn closed at $3.85 1/2, up 4 1/2 cents,

Sep 19 Corn closed at $3.91 3/4, up 3 3/4 cents

Dec 19 Corn closed at $3.98 3/4, up 3 1/4 cents

--provided by Brugler Marketing & Management

Market Commentary provided by:

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