Corn Market Commentary

Corn futures are trading 2 to 3 cents higher this morning. They closed fractionally mixed on Wednesday with the late 2019 contracts the weakest. A private export sale of 212,000 MT of corn to Mexico for 2018/19 delivery was reported on Wednesday morning but failed to move the meter. Weekly EIA data showing ethanol production will be released later this morning. Most ECB states are still above normal harvest progress, with WCB still lagging. DTN reported a national average cash price of $3.35 3/4 on Tuesday evening, 34 cents higher than last year. That put the national basis level at -33 3/4 cents, a nickel stronger than a year ago. Taiwan purchased 62,000 MT of corn in their recent tender with US or Brazil origin.

--provided by Brugler Marketing & Management

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