Corn Market 2 to 3 Cents Lower

Corn futures are 2 to 3 cents lower this morning. They closed fractionally higher on Thursday. The USDA Export Sales report showed a slow 119,267 metric tons (MT) in the week ending August 15. New crop sales totaled 301,608 MT, down 2% from the previous week and 72% lower than the same week last year. The Pro Farmer Midwest Crop Tour finished up in Minnesota today, with the national Pro Farmer estimate set to be released later today. The Minnesota tour average yield was 170.4 bushels per acre, with Iowa at 182.8 bpa. CONAB expects Brazil’s corn-based ethanol production to rise by 70.89% to 1.35 billion liters (8.491 million barrels) in 19/20. --- provided by Brugler Marketing & Management




Market Commentary provided by:

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