Corn (P) Futures PricesWednesday, Jun 19th, 2013
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Latest Brugler Corn (P) Report
Corn futures are trading 2 to 8 cents lower this morning. The market settled at a one month high on Tuesday, due to strong basis bids in spots and less than expected improvement in new crop condition ratings from USDA. Gulf corn basis was reported at a record high for the month of June at $1.25 over the July futures. This is despite a fairly limited export program. Interior basis in some locations weakened as elevators switched bids to September. South Korea bought 69,000 MT of optional origin corn for L/H October delivery and 58,000 MT of optional origin for F/H November.
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