Corn (P) Futures PricesMonday, May 20th, 2013
Current Prices | End-of-Day Prices | Options Quotes | Spread Quotes | Profile
Latest Brugler Corn (P) Report
Corn futures are trading 3.5 cents higher for July and a penny lower for December. Producers are being shut out of planting on a rotating basis as rains develop in very humid air. The strong dollar is a concern relative to export sales, but ethanol plants are unaffected and are buying aggressively due to solid margins. Futures were up 2.5% last week in the old crop July contract, with confirmed cash sales @ +88N and rumors of $+$1 trades in the WCB. These would be going to ethanol plants. Memphis based Informa lowered its corn planting forecast to 96.827 million acres. That would be 455,000 acres less than the March intentions report. The weekly CFTC commitment of traders report showed managed money accounts increased their net long position by an even 14,000 contracts. Trade guesses for tonight’s weekly planting progress report from USDA appear to be focused in the 60-70% range.
InsideFutures Grains News