Corn Pit Dec '12 (CZ12)
Corn (Pit) Futures Market News and Commentary
Corn price action is up 2 ½ to 3 ½ cents so far on Tuesday AM trade. Futures closed the Monday session with front months fractionally to 1 ¼ cents higher, as other contracts were steady to 1 ¾ cents lower. Open interest was down 4,667 contracts, as 40,717 contracts were rolling out of July and September up 21,980 and December up 12,467. The CmdtyView national average Cash Corn price was up 1 1/2 cents at $3.85 3/4.Â
USDA reported a private export sale of 103,000 MT to Japan on Monday morning, with 40,000 MT for old crop and 63,000 MT for new crop.
NASS Crop Progress data from Monday showed 97% of the US corn crop planted by June 7, with emergence at 86%, near the 5-year average. US condition ratings were 67% in good to excellent condition, steady with the previous week. The Brugler500 index was up 1 point on higher excellent ratings to 372.Â
Monday morning’s Export Inspections report showed corn shipments of 1.911 MMT (75.34 mbu) in the week of 6/4. That was up 9.2... Read more
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