Corn Futures PricesFri, Aug 22nd, 2014
Latest Brugler Corn Report
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Corn futures closed 1 to 2 cents higher, continuing to work within a trading range. The US Dollar index backed off today after surging to new highs on Wednesday. The weaker dollar created a little slack. The Pro Farmer Tour computed an Illinois average yield of 196.96 bushels per acre. The tour wraps up today in Minnesota. This morning, USDA showed net weekly export sales of 819,200 MT, including old crop of 99,900 MT and 719,300 MT new crop. New crop commitments are now more than 9.25 MMT or 364 million bushels, just over 20% of the USDA projection for total 2014/15 exports. The Stats Canada corn production estimate came out at 11.43 MMT this morning when expectations were for around 11.5 MMT. The Canadian production figure is down nearly 19.5% from the 14.2 MMT produced last year.
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