Corn prices are fractionally mixed after a tight +/-3 cent overnight range to start the midweek. Turnaround Tuesday resulted in corn gains of 3 1/4 to 4 3/4 cents. The March contract stayed 7 cents under the $7 mark at the day’s high, and remains a 6 cent carry from Dec.
Dalian Corn Prices were down by 20 yuan (~7 cents) in the Jan contract on Tuesday to 2,862 yuan/MT (~ $9.95/bu).
Data from the U.S. Census Bureau and The Fertilizer Institute confirmed that the 370k tons of nutrient exports in August were the most for any month since TFI began tracking the data in 2013. Russian sanctions and Ukrainian reliability concerns each contributed to the U.S. market’s competitiveness for the E.U.
Dec 22 Corn closed at $6.86 1/4, up 4 3/4 cents, currently UNCH
Nearby Cash was $6.76 3/8 on Tuesday, up 5 1/8 cents,
Mar 23 Corn closed at $6.92 1/4, up 4 1/2 cents, currently down 1/4 cent
May 23 Corn closed at $6.92, up 4 3/4 cents, currently down 1/4 cent
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes.
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