Corn Futures PricesThu, Aug 21st, 2014
Latest Brugler Corn Report
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Corn futures are trading slightly higher this morning. The US Dollar index surged to new highs yesterday, hurting commodities priced in dollars. The Pro Farmer Tour computed an Illinois average yield of 196.96 bushels per acre. Comparisons to the 3-year average (149.36 bpa) are not very valid as the 2012 drought data badly drags down the average. This morning, USDA is showing net weekly export sales of 819,200 MT, including old crop of 99,900 MT and 719,300 MT new crop. Trade expectations had been 600,000 to 990,000 MT, with a maximum of 150,000 being old crop. The Stats Canada corn production estimate this morning is expected to be in the 11.5 MMT range, vs. 14.2 MMT last year.
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