Corn Market News and Commentary
BRUG - Fri Mar 08, 5:15PM CST

Corn futures were mixed on Friday, with front months fractionally to 1 1/4 cents lower. May was down 2.35% this week after being 2.99% lower the week prior. In their monthly WASDE update, USDA increased US ending stocks for 18/19 by 100 mbu to 1.835 bbu. That was due to a reduction to ethanol demand (-25 mbu) and lower exports (-75 mbu). Total commitments are lagging a year ago by 1.5% but accumulated exports are 39.69% larger. On the world side, both Brazil (94.5 MMT) and Argentina (46 MMT) production numbers were UNCH. Ending stocks for 18/19 were down 1.25 MMT at 308.53 MMT on the world balance sheet, with China feed corn usage up 3 MMT as they push a hog diet heavy in corn and lower in soybean meal. Up to date CFTC data showed specs in corn futures and options adding 72,318 contracts to their net short position of 176,777 contracts as of March 5.

Mar 19 Corn closed at $3.54 3/4, down 1 1/4 cents,

May 19 Corn closed at $3.64 1/4, down 1 cent,

Jul 19 Corn closed at $3.73 1/2, down 3/4 cent

Sep 19 Corn closed at $3.80 1/4, down 3/4 cent

--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.