Latest Brugler Corn Report
Corn futures ended Monday a quarter higher to 2 cents lower. Dec corn traded at $4.09 this morning but could not hold it. The weekly Crop Progress report tonight shows that corn conditions continue to drop, with 68% good to excellent, down three percentage points from a week ago. The Brugler500 scale now has corn down 6 points from last week to 372. Weekly USDA export inspections this morning totaled 1.041 MMTs for the week ending June 25. That was a decrease of 7.24% from the previous week, but an increase of 14.76% from the same week a year ago. The quarterly USDA reports come out tomorrow. Pre-report trade estimates have the average guess for corn acreage at about 89.29 million acres, which would be a slight increase from the March 31 intentions. On average, the trade expects corn stocks in all positions to be about 4.555 billion bushels, with published estimates fitting into a 281 mbu range from 4.419 to 4.700 bbu.
InsideFutures Grains News