Corn Market Off 2 to 4 At Midday
BRUG - Fri Jun 07, 12:11PM CDT

Corn futures are trading 2 to 4 cents lower at midsession. While US weather forecasts are still juicy, a window of drier weather will allow some planting progress. Monthly export data from Census indicated 5.472 MMT (215.43 mbu) of corn were shipped in April, up 14.7% from March but 29.04% lower yr/yr. A Bloomberg survey found the average analyst estimate for 2019/20 corn ending stocks in the June 11 report dropping to 1.772 billion bushels from the May USDA figure of 2.485 billion. The average trade estimate has US average corn yield dropping to 172.4 bpa from 176 in the May WASDE report.

Jul 19 Corn is at $4.16 1/4, down 4 1/4 cents,

Sep 19 Corn is at $4.24 3/4, down 4 3/4 cents,

Dec 19 Corn is at $4.34, down 4 1/2 cents

Mar 20 Corn is at $4.42 1/2, down 4 1/4 cents

--provided by Brugler Marketing & Management

Market Commentary provided by:

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