Corn Futures PricesFri, Mar 27th, 2015
Open Interest is for the previous day's trading session.
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Corn futures are trading steady so far this morning. The Hogs & Pigs report is mildly supportive, due to larger numbers consuming corn. Keep in mind, USDA already has estimated feed/residual use in the current crop year at 5.25 billion bushels, up from 5.036 in 2013/14 in the face of prices averaging $3.70 this year, versus $4.46 last marketing year. The main market movers this week will be the Grain Stocks and Planting reports on Tuesday. Today is mostly a positioning day. SAFRAS put the Brazilian corn crop at 75.9 MMT vs. 77.2 MMT last year. Trade guesses for the USDA acreage intentions on Tuesday are around 88.8 million, although the exact number depends on which survey you read. That would be slighltly below the February USDA Forum number of 89.0 million.
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