Corn Recovers From Session Lows

At the close for the Monday session, front month corn futures were 1 1/4 to 3 cents in the black. March contracts closed at $5.65 ahead of Friday’s expiration and no deliveries on the books. The national Spot Cash Corn (cmdtyView)  price was $5.30 3/4 cents. In the ECB the cash price is $5.36 3/4, and $5.25 1/2 in the WCB. For new crop futures, the afternoon rally washed the midday drop and prices closed UNCH on the day.

Export Inspections data showed 1.544 MMT of corn shipped on the week ending March 4th. That was down from over 2 MMT LW, but well above 830k MT the same week LY. The MYTD total to 27.624 MMT.

Traders anticipate Tuesday’s USDA reports to show a 41.7 mbu cut to corn carryout. The average estimate is 1.460 bbu.

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<p>Market Commentary provided by:<br /> <img src="https://s3.amazonaws.com/images1.aws.barchart.com/logos/bruglerlogo.gif" border="0" /><br /> Brugler Marketing &amp; Management LLC<br /> 1908 N. 203rd St.Omaha, NE 68022<br /> Phone: 402-697-3623<br /> Fax: 402-289-2353<br /> E-mail: <a href="mailto:alanb@bruglermktg.com">alanb@bruglermktg.com</a><br /> Web: <a href="http://bruglermarketing.com/">http://bruglermarketing.com</a></p> <p align="center"><!-- [if gte mso 9]><xml> <w:WordDocument> <w:View>Normal</w:View> <w:Zoom>0</w:Zoom> <w:TrackMoves/> <w:TrackFormatting/> <w:PunctuationKerning/> <w:ValidateAgainstSchemas/> <w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid> <w:IgnoreMixedContent>false</w:IgnoreMixedContent> <w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText> <w:DoNotPromoteQF/> <w:LidThemeOther>EN-US</w:LidThemeOther> <w:LidThemeAsian>X-NONE</w:LidThemeAsian> <w:LidThemeComplexScript>X-NONE</w:LidThemeComplexScript> <w:Compatibility> <w:BreakWrappedTables/> 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