Corn futures closed Tuesday with most contracts fractionally higher. The USDA announced a private export sale of 162,000 MT of US sorghum for 17/18 delivery to China through their daily reporting system this morning. The weekly EIA report will be released Wednesday morning at 9:30 a.m. CST, as ethanol production looks to continue the robust numbers from tha past few weeks. Informa expects the 2017/18 corn crop in Brazil at 89 MMT, down 3 MMT from their prior estimate. Safras is estimating total Brazilian corn production of 90.52 MMT for the new year.

Dec 17 Corn closed at $3.39 3/4, up 1/4 cent,

Mar 18 Corn closed at $3.53 3/4, up 1/4 cent,

May 18 Corn closed at $3.62 1/4, up 1/4 cent

Jul 18 Corn closed at $3.70 1/2, up 1/2 cent

Market Commentary provided by:

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