Corn Futures PricesThu, Nov 27th, 2014
Latest Brugler Corn Report
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Corn futures settled mostly about 4 cents higher on the day, supported by higher wheat prices along with a weekly EIA report that was bullish for corn use. The report showed the largest-ever daily average production rate for ethanol in a single week, and US ethanol stocks were down 1.5% from last week. Brazilian sources continue to see first crop acreage down between 4-8%. China is beginning their annual reserve buying program, paying roughly $9.35 per bushel to take up to 40 MMT of corn off the market between now and April. The government sells back those reserves in the summer when local supplies are tighter.
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