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Corn

“The corn market finished lower after trading higher for a good chunk of the day,” Bryant Sanderson, with CHS Hedging, said. “The March contract broke through the 200-day moving average of $6.775 today but failed to finish above it… Ethanol production was up 4,000 bpd to 1.01 mln bpd. Stocks were up 1.68 mln barrels to 25.08 mln barrels.”

“Argentina’s corn crop is rated just 5% good-to-excellent so the portion of the crop that will benefit from the recent rains may be less than expected,” Stewart-Peterson said. “Snow is falling from Missouri to Ohio today and some fell yesterday in the southwestern Plains which will help sustain the water levels on the Mississippi.”

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