Corn Dips as Trade Aid May Affect Prevent Plant Decisions

Corn futures are down 1 to 3 cents in most contracts on Thursday, following the release of the Trade Aid information. USDA reported that the trade aid for this year will be based on single county rates multiplied by aggregate acres of the 29 listed crops affected including corn. The payments will not be included on prevent plant acres. The USDA reported 442,080 MT of old crop corn sold 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.

Jul 19 Corn is at $3.91 1/2, down 3 cents,

Sep 19 Corn is at $4.00 1/2, down 3 1/4 cents,

Dec 19 Corn is at $4.10, down 2 3/4 cents

Mar 20 Corn is at $4.20 1/2, down 2 1/4 cents

--provided by Brugler Marketing & Management




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