Market Overview

Corn Little Higher

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July Corn is trading at 355 3/4, up 2 1/4 cents. December Corn settled at 372 1/4, up 2 1/4 cents. Corn futures are trading a little higher Friday morning. Trading is a little firm and is expected to be choppy.

Chatter about crop conditions and weather outlooks is making the rounds. The USDA will report weekly export sales today; estimates are for 850,000 tons. Corn used in ethanol production last week is estimated at around 101.75 million bushels.

The International Grains Council has estimated 2015/2016 global corn production to be near 961 million tons, a 10 million increase from last month and down from 997 million tons last year. The Council sees Corn usage around 974 million tons and estimates ending stocks to be near 187 million tons vs. 201 million a year ago.

 

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Posted-In: cornFutures Commodities Markets

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