Corn Market Rebounds on Insurance Rumors

Corn futures are trading 4 to 5 3/4 cents higher this morning. They closed lower for the first time in 9 sessions on Thursday, with most contracts down 1 to 5 1/4 cents. USDA reported that this year’s MFP payment will be based on single county rates multiplied by aggregate acres of the 29 listed crops affected including corn. There were rumors overnight that the White House was somehow going to change existing crop insurance contracts to enhance the payout for prevented planting. The USDA reported 442,080 MT of old crop corn sold for export during the week of May 16, with Japan purchasing 185,800 MT. That was in the range of estimates but down 48.25% from the same week a year ago. New crop sales totaled 183,879 MT. An auction of Chinese state reserves sold 3.62 MMT of 2014 corn on Thursday, which was 90.66% of the total offered.

--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
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

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.