Latest Brugler Corn Report
Corn futures are trading steady to a few cents lower this morning. Preliminary OI was down 9,603 contracts on yesterdays sideways action. Weather conditions in the major production areas of Midwest are set to warm up over the next 10 days which should allow for additional planting progress into late April. Later this morning, the EIA will release with their weekly ethanol production stats which have may influence on today’s trade. Last week’s released showed production at 896,000 bpd, while stocks were reported at 16.4 million barrels. USDA reported Kansas currently 11% planted, vs. 4% the previous week and the 5 yr average of 9%. Missouri was reported at 9% pl anted, vs. 2% the previous week and the 5 yr average of 16%. Some freeze damage has been documented on Texas corn from the Monday night temps.
InsideFutures Grains News
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