Corn Market 3 to 4 Higher Overnight
BRUG - Fri May 17, 7:28AM CDT

Corn futures are trading 3 to 4 cents higher this morning. They continue to trade the wet weather forecasts, with most contracts settling up 4 to 9 1/2 cents in the front months on Thursday. The 7-day QPF shows forecasts for 5-7 inches of rain for the heart of the Corn Belt, likely further delaying planting. USDA showed 553,334 MT of old crop corn sales in the week of May 9. That was nearly double last week but 43.7% lower than the same week last year. The Buenos Aires Grain Exchange estimates that 34% of Argentina’s corn crop is harvested, about the normal pace. They also left their production estimate at 48 MMT, vs. USDA at 49 MMT.

--provided by Brugler Marketing & Management

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