Corn 4 to 8 Cents Higher on Planting Delays

Corn futures are trading 4 to 8 cents higher this morning. They ended the Monday session with most contracts 2 to 5 cents higher, following 7-8 cent losses in the overnight session. Preliminary open interest jumped 23,060 contracts on Monday’s rally, mostly in the July and September contracts. May futures expire today. After the Monday close, NASS reported the US corn crop was 30% planted as of Sunday, moving only 7% from the prior week and slower than most estimates. That was just half of the same week last year (59%) and 36% below the average pace. The crop was 10% emerged, with the normal pace at 29%. The Export Inspections report indicated that 1.001 MMT of corn was shipped in the week that ended on May 9. That was up 2.45% from the week prior but still 36.59% below the same week in 2018.

--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
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

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.