Corn See Follow through Selling on Tuesday
BRUG - Tue Aug 13, 5:36PM CDT

Corn futures were lower again on Tuesday, falling 10 to 19 1/4 cents in the front months. 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. Monday’s crop ratings by state saw IL down 2 points on the Brugler500 scale, with IN 10 lower and IA down 3. Ratings in NE (+7), MO (+4), and SD (+1) were all reported higher. Parts of the WCB are expected to receive significant rainfall over the next 7 days. A total of 130,000 MT of optional origin corn was purchased by two South Korean importers on Tuesday.

SEP 19 Corn closed at $3.66, down 19 1/4 cents,

DEC 19 Corn closed at $3.76 1/2, down 16 1/4 cents,

MAR 20 Corn closed at $3.90, down 13 1/4 cents,

MAY 20 Corn closed at $3.98 3/4, down 10 1/4 cents

--provided by Brugler Marketing & Management

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