Corn

Corn futures are currently 1-2 cents higher at midday. The main story on Thursday was the USDA raising their 17/18 US corn yield projection to an all time record to 175.4 bpa. That estimate has moved +5.9 bpa since the August report. US ending stocks were hiked but the increase was limited by larger exports and feed and residual, up 75 mbu each. Thursday morning’s Export Sales report showed weekly shipments of just 489,835 MT, well short of this time last year. Total export commitments are now 21.67% lower than this time last year, gaining 5.19% over the last week.

Dec 17 Corn is at $3.43, up 1 1/2 cents,

Mar 18 Corn is at $3.56 1/4, up 1 1/2 cents,

May 18 Corn is at $3.64 3/4, up 1 1/4 cents

Jul 18 Corn is at $3.72 1/2, up 1 cent




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