Corn Futures Market News and Commentary
Thursday corn futures prices closed firm. Sept and Dec were fractionally higher, July ’21 and Sept ’21 were fractionally lower. From USDA, corn sales were 2.702 MMT (106 million bushels) for the week ending July 30. That was split 101,596 MT of old crop, and 2.6 MMT of new crop sales. About 91% of the new crop corn sales were previously known via mandatory daily announcements. Of the new crop purchases, 1.937 MMT were to China and 276k were to unknown. Ahead of USDA’s official August supply and demand updates, analysts in a Bloomberg survey expect a 180.5 bpa yield on average for 15.176 bbu of production. South Korea purchased 63,000 MT of optional origin corn.
Sep 20 Corn closed at $3.11 1/4, up 1/4 cent,
Dec 20 Corn closed at $3.23 3/4, up 1/2 cent,
Mar 21 Corn closed at $3.35 1/2, unch,
May 21 Corn closed at $3.43 3/4, unch,
--- provided by Brugler Marketing & Management