Corn Market News and Commentary

Corn futures are currently UNCH to fractionally higher after settling 2 to 3 1/2 cents higher on Friday. March was up 2% for the week. The EIA report indicated weekly ethanol production (and corn use) slowed 31,000 barrels per day from the previous week to 1.011 million bpd. Ethanol stocks were higher by 29,000 barrels at 23.162 million barrels. Those weren’t the market focus. Solid corn export activity is still underway, livestock are still eating corn, and most of the ethanol industry is still grinding. USDA is suspending the release of Friday’s reports (Crop Production, Grain Stocks, WASDE) and will announce the new dates once the government gets funding. Negotiations between Congress and the Administration continued over the weekend.

--provided by Brugler Marketing & Management

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