Corn Higher Ahead of Cold Weather

Corn futures are up 5 to 7 1/4 cents in the front months at midday. Heavy snow is expected in the Dakotas and Minnesota late this week, with freezing temps seen dipping down to parts of Northern TX but staying concentrated in the Western areas of the Plains. The weekly Crop Progress report as of Oct. 6th indicated that those three states showed much of the crop still exposed, with 61% of the crop in MN left to mature. The Dakotas have 78% (ND) and 64% (SD) of corn yet to mature. Those States account for 17.14% of estimated 19/20 crop (as of Sep Crop Production). Condition ratings dropped 1% to 56% gd/ex, with the Brugler500 down 2 at 348. Traders are expecting the USDA October yield projection to drop 0.7 bpa to 167.5 bpa with a range of 159-169 bpa. With that yield reduction and an estimated 0.5 million acre cut to harvested acreage, analysts expect production to drop on average by 211 mbu to 13.88 bbu. Any freeze damage this week would be calculated in future reports.

DEC 19 Corn is at $3.94 1/4, up 7 1/4 cents,

MAR 19 Corn is at $4.05 1/4, up 6 1/4 cents,

MAY 20 Corn is at $4.10 1/4, up 5 3/4 cents

JUL 20 Corn is at $4.13 1/4, up 5 cents

-- provided by Brugler Marketing & Management

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.