Corn Futures Market News and Commentary
Corn futures are trading 2 to 3 cents lower following the overnight session on Wednesday. New Crop December is up a penny. They ended with a Turnaround Tuesday for old crop. The board had a seesaw session with overnight weakness, before bouncing back at midday. Ultimately old crop contracts ended the day with 2 1/4 to 4 cent losses. March saw a 10 1/2 cent range on the day. New crop followed a similar pattern, but prices ended UNCH to a penny higher.
Ukrainian export data showed a 32% lower grain export during the week of 1/29, including 607,771 MT of corn. Since the trade deal was signed, Ukraine has shipped 19 MMT of grains. China has been one of the largest recipients, and corn has been the most shipped commodity by volume.
Mar 23 Corn closed at $6.79 3/4, down 4 cents, currently down 3 cents
Nearby Cash was $6.80 ¼ on Tuesday, down 5 3/4 cents,
May 23 Corn closed at $6.77 1/2, down 3 3/4 cents, currently down 3 cents
Jul 23 Corn closed at $6... Read more