Corn Market News and Commentary

Corn futures are showing 1 to 1 1/2 cent gains in the front months, with deferred contract fractionally mixed. Weekly EIA data showed ethanol production in the week of April 5 up just 3,000 barrels per day to 1.002 million bpd. Stocks in that week saw the largest weekly draw down since October, 799,000 barrels lower at 23.193 million barrels. The Rockies and Gulf were the only regions to build stocks. On Tuesday, USDA trimmed the average farm price range by a nickel on each end to $3.40-3.70, with the mid-point still at $3.55.

May 19 Corn is at $3.61 1/2, up 1 1/2 cents,

Jul 19 Corn is at $3.70, up 1 1/2 cents,

Sep 19 Corn is at $3.78 1/2, up 1 1/4 cents

Dec 19 Corn is at $3.90 1/4, up 1 cent

--provided by Brugler Marketing & Management




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