Corn Futures PricesFri, May 6th, 2016
Latest Brugler Corn Report
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Corn futures are steady to slightly higher this morning, after closing 1 1/2 to 3 1/2 cents lower on Thursday. US export sales during the week ending last Thursday totaled 829,823 MT, nearly 93% of which was old crop. Weekly bookings were the smallest since the week ending February 4. Old crop commitments totaled 37.856 MMT as of last Thursday, now 92% of the 2014/15 commitments at this time last year. Weekly export sales (before Census adjustment) need to average 558,266 MT over the last 18 weeks to reach the full year USDA export forecast of 41.0 MMT. Chinese corn acreage is projected by the Chinese agriculture ministry to drop by 3.29 million acres in 2016/17.
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