Corn Market 1 to 2 Lower
BRUG - Wed Nov 13, 7:29AM CST

Corn futures are 1 to 1 3/4 cents lower this morning after bouncing 3 to 4 1/2 cents on Turnaround Tuesday. US corn harvest was in line with trader anticipations, with the USDA stating that the 18 states have progressed 14% since 11/03. Corn harvest was 66% complete on 11/10, which is well behind the 85% average for this time of year. North Dakota was 61% below their average pace, with So Dak reported 45% behind normal. WI and MI were also more than 30% behind their average pace. Also mentioned in the weekly report, sorghum harvest was ahead of average by 8 percentage points. USDA Corn export inspections outpaced anticipations, with a near double (97.43% increase) over last week. The 560,105 MT for the week ending 11/07 was still well below last year’s 1.158 MMT in weekly exports. For the YTD the USDA has inspected 4.321 MMT of corn exports, 61.2% below last marketing year’s pace of 11.138 MMT.

---provided by Brugler Marketing & Management

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