Corn (P) Futures PricesThu, Apr 17th, 2014
Latest Brugler Corn (P) Report
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Corn futures are trading steady across the board. Funds were estimated to be sellers of roughly 6,000 contracts yesterday. Export sales for the week ending April 10 were expected to come in between 500,000 – 900,000 MT. USDA put the actual figures at 794,500 MT (including 192,600 MT for 14/15). The weekly EIA report showed ethanol production at 939,000 bpd, which was sharply higher compared to last week’s figure of 896,000 bpd. It represents 100 million bushels of corn use per week and was the largest since the week ending December 8. Ethanol stocks were reported at 16.0 million barrels, down 400,000 from last week. Ethanol imports were 0 this week. The Buenos Aires exchange estimates that 19.7% of the crop there has been harvested. They would usually be about 32% done by now.
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