Corn Continues Lower on Tuesday
BRUG - Tue Aug 13, 12:29PM CDT

Corn futures are showing sharp 10 to 17 1/4 cent losses again on Tuesday, following Monday’s limit lower move. Expanded limits of 40 cents per bushel are in effect today. Monday’s WASDE report showed reduced estimated corn FSI (from ethanol) use by 25 mbu in both 18/19 and 19/20. That, along with a 100 mbu reduction for 19/20 exports, contributed to an increase in both old and new ending stock estimates. USDA also trimmed the 19/20 average farm price by a dime to $3.60. Monday afternoon’s crop ratings from NASS were unch at 57% gd/ex and 351 on the Brugler500 index. By state, IL was down 2 points, with IN 10 lower and IA down 3. Ratings in NE (+7), MO (+4), and SD (+1) were all reported higher. A total of 130,000 MT of optional origin corn was purchased by two South Korean importers on Tuesday.

SEP 19 Corn is at $3.68, down 17 1/4 cents,

DEC 19 Corn is at $3.77 1/2, down 15 1/4 cents,

MAR 20 Corn is at $3.90 1/2, down 12 3/4 cents

MAY 20 Corn is at $3.98 1/2, down 10 1/2 cents

--provided by Brugler Marketing & Management

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