Corn Closes Near Highs
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After midweek trading, corn futures settled near the highs with 6 1/2 to 14 cent gains. Old crop prices were up double digits with 2.29% to 2.41% gains. New crop prices closed the session 1.26% to 1.98% higher.

EIA data showed ethanol producers averaged 941,000 barrels per day through the week ending 4/9. That was down 34,000 bpd from the previous week and was 92k bpd below the pre-COVID weekly production average. Ethanol stocks were 124k barrels tighter, led by a sharp decrease in the PADD Gulf region, to 20.518m barrels. That is the smallest ethanol stockpile since the week ending 11/13.

Ahead of the weekly Export Sales report on Thursday, traders are looking for 500,000 to 900,000 MT of old crop corn bookings from the week ending 4/8. New crop corn sales are estimated to have been below 300,000 MT.

Through April 12, 58.6% of Brazil’s 1st crop corn was harvested. That was up 8 ppts from the week prior, and 3.8% points ahead of last season’s pace. Planting for 2nd crop in Brazil reached 99.6% complete, with just Sao Paulo and Parana left. Wire reports cite Parana 2nd crop corn condition ratings were just 76% good, when their average rating is typically 93%.

May 21 Corn  closed at $5.94, up 14 cents,

Jul 21 Corn  closed at $5.79 1/2, up 13 cents,

Nearby Cash was $5.83 5/9, up 14 1/4 cents,

Dec 21 Corn  closed at $5.11 1/4, up 7 cents,

New Crop Cash was $4.83 4/5, up 7 1/8 cents,




<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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