Corn futures are trading 1 to 2 1/4 cents higher in most contracts on Friday. USDA did not update their monthly reports today due to the partial government shutdown. Turkey is seeking 342,000 MT of optional origin corn, with the tender due on January 18. The Chinese Ag Ministry updated their 18/19 corn crop estimate at 257.33 MMT, which is compared to 259.07 MMT last year. The Buenos Aires Grain Exchange estimates that 86.1% of the Argentine corn crop is planted, slightly below a year ago. Of the crop that is emerged, 51.1% is in gd/ex condition, compared to 29.3% last year. An updated estimate from Safras & Mercado shows Brazil’s 18/19 corn crop at 93.366 MMT, down 1.53 from their prior estimate.
Mar 19 Corn is at $3.78, up 1 3/4 cents,
May 19 Corn is at $3.86 1/2, up 2 cents,
Jul 19 Corn is at $3.94 1/2, up 2 1/4 cents
Sep 19 Corn is at $3.97 1/4, up 2 1/4 cents
--provided by Brugler Marketing & Management