Corn Futures PricesMon, Mar 10th, 2014
Latest Brugler Corn Report
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Corn futures closed 9 to 11 cents lower on the day. The trade was slightly lower across the board overnight and experienced further selling pressure after the March WASDE figures were released. Weekly export inspections were reported at 933,974 MT, which is 123,139 MT less than last week and 564,539 MT more than the same period last year. The average trade guess for US corn ending stocks in the USDA WASDE report was 1.488 billion bushels. USDA cut the actual figure to 1,456 Mb with a 25 million bushel increase in exports. USDA pegged the Argentina figure at 24.0 MMT and the Brazilian figure at 70.0 MMT (both unchanged from Feb and thus a little bearish). Tonight, the Texas corn crop was reported at 10% planted vs. 8% the previous week. The 5 yr average for this time of year is 18%. Texas sorghum crop was reported at 7% planted vs. e% the previous week. The 5 yr average for this time of year is 11%.
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