Corn Futures PricesThu, Jul 24th, 2014
Latest Brugler Corn Report
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Corn futures are trading4 to 6 cents higher this morning. Trade ideas for USDA weekly Export Sales were in the 650,000 MT to 1.2 MMT range, about half old crop and half new crop. USDA this morning reported that sales for the week totaled 1.4349 MMT, with nearly 80% of the total made up of new crop corn. Weekly ethanol production was 16K barrels per day(bpd) higher than the previous week, coming in at 959K bpd. That is the second largest weekly corn consumption of the year for ethanol. A weather firm rolled out a 172.8 bpa national number yesterday but the market was able to shake it off. The NWS 8-14 day forecast continues the much below normal temps for the Corn Belt through at least August 6.
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