Corn Market News and Commentary

Corn futures are trading 4 to 5 3/4 cents higher in the nearby contracts on Thursday. DTN’s national corn index was at $3.42 on Wednesday evening, 22 1/4 cents above last year. That put national basis at -32 cents, just 1/4 cent weaker than the same time in 2018. Export demand has been better this MY, but weaker ethanol margins have a negative impact on basis. South Korean feed importers purchased another 129,000 MT of optional origin corn in separate private purchases on Thursday. Chinese officials noted stronger than expected government auction sales in 2018 and suggested that the oldest corn in their inventory would all be gone by the end of 2019.

Mar 19 Corn is at $3.79 3/4, up 5 3/4 cents,

May 19 Corn is at $3.87 3/4, up 5 1/2 cents,

Jul 19 Corn is at $3.95 1/4, up 5 1/4 cents

Sep 19 Corn is at $3.98 1/2, up 4 3/4 cents

--provided by Brugler Marketing & Management

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