Friday corn trading had the board back up by 1 1/2 to 2 1/2 cents @ midday in choppy activity. Blink and the price will be somewhere else! USDA’s weekly Ethanol Report showed corn oil prices averaged 1-3 cents within last week’s quotes from 71c to 77c per pound regionally. DDGS were $5-$17/ton higher from $225 to $255/ton regionally during the week.
As corn harvest picks up pace, NOAA forecasts some rain in the heartland. SW NE will get the most through the coming week with at least 1 1/2” accumulated. IA, IL, and IN will also get +1” of accumulated precip. The Southern corn belt, where harvest is more widespread, will stay mostly dry through the coming week.
USDA reported 583k MT of corn was sold during the week that ended 9/15. That was within the range of estimates. The 21/22 MY finished, with USDA’s weekly data showing 59.764 MMT for the season’s export. The new crop’s export program has 463k MT shipped through 9/15. New crop corn export sales commitments are 12.4 MMT (~488 million bushels) smaller than commitments at the same point a year ago and the lightest since 2019.
Dec 22 Corn is at $6.79 1/2, up 2 cents,
Nearby Cash is at $6.78, up 1 1/4 cents,
Mar 23 Corn is at $6.85 1/2, up 2 3/4 cents,
May 23 Corn is at $6.85 1/4, up 2 1/2 cents,
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