Corn prices are 6 to 7 cents lower ahead of the weekly USDA Export Sales report. At the close on Thursday corn prices were 1 to 3 cents higher. The CDC weather forecasts lean toward above normal temps in the US Corn Belt from May to August, with a more mixed outlook for rainfall. Due to the Monday holiday, USDA weekly Export Sales was pushed back to Friday. Estimates are looking for 0.6 to 1.2 MMT of corn bookings. EIA data is also set for delayed release today, after a federal holiday for the inauguration on top of the MLK break on Monday. Acreage estimates are beginning to surface ahead of the new crop planting cycle. IHS Markit raised their forecast for corn by 3.1m acres from the December forecast to 94.2m. The current Brugler estimate is 94.0 million.
--- provided by Brugler Marketing & Management
