Corn Futures PricesTue, Jun 28th, 2016
Latest Brugler Corn Report
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Corn futures are trading mostly 3 to 5 cents higher, thanks to a 300 point retreat in the US Dollar this morning, and additional strength in soybean meal futures. Our Brugler500 Index showed the national corn condition score was unchanged from last week at 385. However Illinois, which produced nearly 15% of the 2015 crop, saw its condition rating decline by 6 points week over week to 379. The state's score is 18 points better than this week last year. The scores in Minnesota and Ohio each improved by 3 points to 398 and 376 respectively. From their state reserve auctions, China sold 440,664 MT of the 1.22 MMT offered. The Crop Estimates Committee in South Africa still sees local corn production only reaching 7.16 MMT in 2015/16, slightly below the average estimate produced by a Bloomberg survey of trade analysts.
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