Corn Futures Market News and Commentary
Thursday corn futures trading is adding to the midweek gains with another 2 ¼ to 3 cent gains so far. December futures are now up on the week.
USDA reported a flash sale of 138,403 MT of corn to Guatemala this morning.
USDA’s weekly Export Sales report showed corn bookings from the week ending 9/16 were 373,007 MT. That was at the low end of estimates, but was still 51% higher than last week’s purchases. Export shipments were 485,813 MT for the week, bringing the MYTD total to 845,724 MT. Total corn commitments, at 24.946 MMT (982 mbu) are up 10.4% yr/yr.
Brazil’s Economy Ministry removed the corn import tariff through the remainder of 2021 – citing low domestic production.
Dec 21 Corn is at $5.28 1/4, up 2 3/4 cents,
Nearby Cash is at $5.11 5/6, up 2 5/8 cents,
Mar 22 Corn is at $5.36, up 3 cents,
May 22 Corn is at $5.40 1/4, up 2 3/4 cents,