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Corn Lower on Turnaround Tuesday
BRUG - Tue Sep 17, 12:18PM CDT

Corn futures are down 5 to 6 cents in most contracts on Tuesday. There are very few threats of frost in the forecasts to the first of Oct, as the 8-14 day outlook shows above normal temps for most of the US outside the PNW. The Monday afternoon Crop Progress report indicated 68% of the US corn crop was dented as of Sunday, with 18% mature (vs. 39% avg), and 4% harvested (7% avg). Conditions were unch at 55% gd/ex, as the Brugler500 index saw a 1 point bump to 348 on a 1% move from good to excellent. Wire reports suggest China’s 2020 ethanol mandate could be pared back due to decreasing corn stocks, while stockpiles in state reserves have dropped to 56 MMT.

DEC 19 Corn is at $3.68, down 6 cents,

MAR 19 Corn is at $3.80 1/2, down 5 1/2 cents,

MAY 20 Corn is at $3.89, down 5 1/2 cents

JUL 20 Corn is at $3.96, down 5 1/4 cents

-- provided by Brugler Marketing & Management

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