Corn futures closed the Tuesday session with most contracts 1 to 2 cents higher. Weakness in the last hour of trading came on spillover from wheat. The USDA reported private export sales of 210,000 MT of 17/18 corn to South Korea through their daily system this morning. According to DTN, the national average corn price on Monday was 33 cents above last year at $3.53 1/4. That puts the basis 3 1/4 cents above this time last year at -31H, with the March contract is set to expire on Wednesday. The weekly EIA report will be released on Wednesday morning. Dr. Michael Cordonnier trimmed his Argentina corn estimate another 1 MMT to 43 MMT, while leaving his Brazil projection at 86 MMT.

Mar 18 Corn closed at $3.85 1/2, up 1 1/4 cents,

May 18 Corn closed at $3.91 3/4, up 1 cent,

Jul 18 Corn closed at $3.99 3/4, up 1 1/4 cents

Sep 18 Corn closed at $4.04 1/2, up 1 3/4 cents

Market Commentary provided by:

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

First you raise it, then you market it!  Check out the full Brugler advisory service with this special Harvest 2Fer offer at


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.