Corn (P) Futures PricesWednesday, Jun 19th, 2013
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Latest Brugler Corn (P) Report
Corn futures are trading 4 to 7 cents higher today. Prices had been stronger, but the market was hit with two pieces of less than bullish news. Weekly EIA ethanol production dropped to an average of 873,000 bpd last week, down 11,000 bpd. Ethanol stocks also jumped to 16.5 million barrels, indicating that production plus imports were larger than use. A Memphis based analytical firm also estimated US acreage at 95.262 million, larger than some of the more bullish trade guesses. South Korea bought 69,000 MT of optional origin corn for L/H October delivery and 58,000 MT of optional origin for F/H November.
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