February 8, 2019 – USDA World Supply and Demand Estimates
Market Reaction: March 2019 corn futures closed down 2 ¼ cents at $3.74 ¼ with a trading range for the day of $3.74 to $3.81 ¾. December 2019 corn futures closed down 1 cents at $3.99 ¼ with a trading range for the day of $3.98 ½ to $4.04. Year-over-year reduction in domestic and foreign stocks continue to be a positive factor for prices. However, reduced ethanol use, greater planted acres in 2019, and continued trade uncertainty provide some degree of skepticism for price improvements. Continue reading comments and profitability update at MonthlyCropOutlook020819.