Corn Market News and Commentary

Corn futures are trading 2 to 2 3/4 cents higher in most nearby contracts on Wednesday. The weekly EIA report showing ethanol production in the week of January 11, pegged output at 1.051 million barrels per day. That was up 51,000 bpd from the week prior and was the largest weekly production (and corn use) since the last week of November. Stocks were also up 97,000 barrels at 23.351 million barrels, with the Midwest and West Coast seeing the reductions. Several South Korean importers purchased a total of 260,000 MT of optional origin corn on Wednesday. Iran also tendered for 300,000 MT of corn, though sanctions on the country made any purchasing limited.

Mar 19 Corn is at $3.74, up 2 3/4 cents,

May 19 Corn is at $3.82 1/4, up 2 1/2 cents,

Jul 19 Corn is at $3.90, up 2 1/2 cents

Sep 19 Corn is at $3.93 3/4, up 2 1/4 cents

--provided by Brugler Marketing & Management

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