Corn Dec '22 (ZCZ22)
Corn Futures Market News and Commentary
Corn prices are showing losses of 2 to 3 cents early on Thursday morning. Futures rallied to 3-year highs on Wednesday with contracts closing 10 to 13 ½ cents higher. Open interest was down 5,593 contracts on Wednesday, with much if that via September (-33,850). Spillover strength in wheat and supply concerns over the US crop have both been supportive. The CmdtyView national average Cash Corn price was up another 13 1/2 cents at $4.85.
Export Sales data will be released this morning, with analysts looking for net reductions of 200,000 MT to net sales of 400,000 MT for 2025/26 sales in the week ending on August 20. New crop bookings are expected to be in a range of 0.6-1.6 MMT in that week.
EIA data from Wednesday morning showed a total of 1.112 million barrels per day in production, which was an increase of 23,000 bpd from the week prior. Stocks saw a modest build of 85,000 barrels to 25.2 million barrels. Refiner inputs were down a modest 3,000 barrels to 923,000 barrel... Read more
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