Corn (P) Futures PricesWed, Dec 4th, 2013
Latest Brugler Corn (P) Report
Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.
Corn futures closed 3 to 5 cents higher on the day. The perception of very strong corn exports thus far in the 13/14 marketing year weakened a bit when China officially rejected more than 120,000 MT of US corn due to a not-yet-approved strain of GMO corn. US exporters were asked to tighten checks ahead of export, to avoid outright cancellations. Mexico came in and bought 165,750 MT this morning, more than offsetting the Chinese rejection. In the weekly EIA report, ethanol stocks were reported at approximately 15.1 million barrels. Ethanol production for the holiday week came in at 913K bpd. US Ethanol imports have been zero for 9 weeks in a row now. The May corn contract on the Dalian exchange in China most recently closed at the equivalent of $9.87 per bushel. Trade estimates for US weekly export sales are 850-950,000 MT.
InsideFutures Grains News