Corn futures are mostly 1 to 1 1/4 cents higher this morning. They closed steady to fractionally lower on Wednesday ahead of today’s USDA reports. The weekly EIA report showed ethanol production for the week of May 4 rising 8,000 barrels per day from the previous week to 1.04 million barrels. Ethanol stocks dropped 178,000 barrels to 21.964 million barrels. Analysts are expecting to see 0.7-1 MMT in weekly old crop corn export sales tomorrow morning, with 50,000-300,000 MT estimated for new crop sales. World corn carryout for 17/18 is expected to be cut 2.6 MMT to 195.18 MMT by the USDA tomorrow. Ending stocks for 18/19 are seen at 183.6 MMT by analysts, a nearly 14 MMT drop from the current USDA 17/18 ending stocks.

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.