Corn Futures PricesMon, Jul 6th, 2015
Latest Brugler Corn Report
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Corn futures are trading 1 to 2 cents lower at midday. Profit taking at the higher prices and the stronger US dollar are having an impact on the grain markets today. The warmer and drier 6-10 day forecast is also a bearish input. The Euro is growing weaker due to the refusal of the proposed bailout in Greece on Sunday. The USDA reported 839,324 MT of corn was inspected in their weekly Export Inspections for the week ending July 2. This is a dip of 19.4% from the previous week, and down -33.6% from the same period in 2014. Year to date inspections are at 94% of the 2014 figures. The Crop Progress report this afternoon is expected to show ratings declining another 1-2%. Financial Times reports that China has imported most of its corn in 2015 from Ukraine, almost 1.55 MMT through May. China has only imported 45,000 MT from the United States.
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