Corn Market Commentary
cmdty Insider - BRUG - Thu Oct 11, 7:24AM CDT

Corn futures are trading 1 to 1 3/4 lower this morning. They closed Wednesday with losses of 1 to 2 cents, on profit taking ahead of today’s USDA reports. The USDA Crop Progress report indicated that all of the 18 reported states were above their normal harvest pace as of Sunday, with IA only moving 4% on the week to 15%. Condition ratings in IA dropped 11 points, with NE down 5, IN 3 points lower and MN down 2. The WASDE report this morning is expected by traders to show world corn carryout for 18/19 at 159.2 MMT, up 2.17 MMT from September. The trade average guess expects USDA to hike the average US yield estimate by 0.5 bushels per acre this morning to a new all time record high. The 44-year average revision for October would be +0.7 bpa, but there are also record yield years like 2016 where the number went lower in this report.

--provided by Brugler Marketing & Management

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.