Corn Futures Market News and Commentary
Following the Monday drops, prices are another 1 to 2 cents lower to start the Tuesday session. Corn lost a nickel to 8 3/4 cents on Monday. After the close, NASS reported corn maturity progressed 18% to 59%. Harvest also progressed by 3% on the week to 8% cut – 5-yr av @ 10%. Harvest in TX was 69% complete, compared with their average of 10%. In NE, 10% of new crop was cut by Sept 20, compared to the average of 4%. Conditions from the Crop Progress report were 61% good/ex for a Brugler500 score of 356. USDA’s weekly Export Inspections report confirmed 755,11 MT of corn shipped on the week ending 9/17. Milo exports were 71k MT, almost exclusively to China (save for 49 tonnes to Italy).
--- provided by Brugler Marketing & Management