Corn

Corn futures are showing fractional losses at midday. The USDA Grain Crush report showed 525 million bushels of corn used for ethanol and other industrial uses in November. Of that, 475.7 million went to fuel ethanol production, which was up 1.2% from October and up 5.2% from November 2016. Corn exports out of Brazil during December totaled 3.99 MMT according to the country’s trade ministry. That is up 13.84% from November and nearly 4 times as large as December 2016. Soil moisture is expected to decline in southern Brazil, Argentina and Uruguay over the next week, driven by higher temps and limited rainfall during pollination.

Mar 18 Corn is at $3.52 3/4, down 1/2 cent,

May 18 Corn is at $3.61, down 1/4 cent,

Jul 18 Corn is at $3.69, down 3/4 cent

Sep 18 Corn is at $3.76 1/2, down 3/4 cent




Market Commentary provided by:

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