Corn Futures PricesFri, May 22nd, 2015
Latest Brugler Corn Report
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Corn futures are trading mostly 4 cents lower at midday on renewed strength in the US Dollar Index, with the trade unwilling to bet against favorable weather in much of the Corn Belt. Old crop exports are only 88% of the full year figure, and would typically be 95% by now. Private trade estimates have come out with the Brazilian corn crop 3 to 4 MMT larger that USDA was estimating in the May 12 WASDE. Ideas about low quality wheat theoretically coming into the livestock feed supply add some pressure with the eventual fallout on feed demand from bird flu still a looming question. Dow Jones reported April Chinese corn imports were about two boat loads compared to about one boat load last April.
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