Market Overview

Corn Futures Little Changed

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March Corn is trading at 366, down 1/4 of a cent/bushel.

May Corn is trading at 372 3/4, down 1/2 of a cent/bushel.

Corn futures are trading rangebound. Early street estimates for U.S. corn plantings are near 90 million acres.

The International Grains Council (IGC) estimates that global corn production will be at 1.045 billion tonnes versus their previous estimate of 1.042 billion tonnes. U.S. Corn used for ethanol production last week was 110.67 million bushels, corn used for the crop year is now at 2.05 billion bushels.

The USDA weekly corn export sales report is due out at 8:30 a.m. ET.

Posted-In: Corn futuresFutures Commodities Markets

 

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