Corn (P) Futures PricesFri, Jan 30th, 2015
Latest Brugler Corn (P) Report
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Corn futures are trading mostly a nickel lower at midday, despite news that the Brazilian ag consultancy, Safras and Mercado, lowered its projection for 2014/15 Brazilian corn production. The figure published this morning was 74.7 MMT, down 1MMT from its November estimate. The USDA projection in the January 12 WASDE report was an even 75 MMT. In that same January report, USDA had corn exports out of that country projected at 19.50 MMT, which was already down 2 MMT from the previous year. April ethanol futures are currently down 10 cents on the week as low gasoline prices and rising inventory pressure the market.
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