Corn Futures PricesFriday, May 24th, 2013
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Latest Brugler Corn Report
Corn futures closed higher today, with the exception of the nearby July contract. Much of the central US will see rain activity this weekend, including very welcome rainfall in the Plains. It will keep raining next week in the Upper Midwest, however, creating further concerns about planting delays. The Argentine Ag Ministry left its estimate of corn production there at 25.7 MMT. The most recent USDA figure is 26.5 MMT. Producer selling picked up yesterday as cash prices got up to $7.50 in some areas. The Commitment of Traders report showed managed money accounts decreased their net long position by 21,180 contracts in the reporting week ending Tuesday.
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