Latest Brugler Corn Report
Corn futures are trading 1 to 2 cents higher on Turnaround Tuesday, after losing around 2 cents on Monday. The USDA Export Inspections report this morning showed that 573,298 MT of corn was inspected for export during the week ending October 8, an increase of 22% from the previous week, but only 61% of year ago. World ending stocks ex-China and ex-US drop more dramatically from last year to this year than do the global numbers. The French Ag Ministry reduced its French corn production estimate by 0.4 MMT to 13.1 MMT. South Korea tendered for 207,000 MT of corn for March/April delivery. A Bloomberg survey shows the trade expects 42% of the US corn crop to be harvested when the USDA publishes its Crop Progress report this afternoon.
InsideFutures Grains News