Corn Market Higher Ahead of Holiday
BRUG - Wed Nov 27, 7:26AM CST

Corn is fractionally higher in pre-holiday trade. Tuesday action saw corn futures give back 2 1/4 to 3 cents of Monday gains. The US stock market continues to post new all time highs, drawing speculative money away from commodities. Taiwan tendered for 65,000 MT of corn, with analysts expecting an Argentinean origin. The Brazilian Real touched an all-time low against the dollar at $.2364. The weak currency has helped to keep their prices down and along with the record second (formerly safrinha) corn crop has limited American corn exports. USDA expects Brazilian exports to be 36 MMT in this 2019/20 marketing year, down from 41 MMT last year. Trade estimates are heading toward 37 MMT or higher.

--provided by Brugler Marketing & Management

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