Corn Futures PricesTue, Sep 23rd, 2014
Latest Brugler Corn Report
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Corn futures closed mostly 4 cents lower today. The Monday Crop Progress Report showed a slight improvement to the overall condition, and the trade took that as another reason to be bearish corn. US harvest is however behind the norm; currently at 7% complete, vs. the 5yr average for this week of 15%. The crop is still 12 points behind the 5yr average in terms of maturity. China is still buying non-GMO corn, with a reported deal for 200,000 MT from Bulgaria at roughly $8.48 CIF. Brazil is building its first corn based ethanol plant. The US national average cash price slipped below the $3 level today.
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