Corn Futures PricesWed, Sep 28th, 2016
Latest Brugler Corn Report
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Corn futures are trading 1 to 2 cents lower this morning. They settled mostly 2 3/4 cents higher on Tuesday. Positioning for both month end and the Friday USDA Grain Stocks report is the main feature. Steady crop condition ratings were priced in following the sharp losses seen in Monday's trade. The Missouri crop rating improved 3 points from last week, but the ratings for each of the three 'I' states were down two points. About 15% was already out of the field by Sunday, but that is actually 4 points behind the 5yr avg for this week. TN and KY are the farthest ahead of their average harvest pace. The range of pre-report trade guesses for Sept 1 corn stocks stretches from 1.665 - 1.862 billion bushels (bbu).
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