Corn prices are working another 5 cents lower through Thursday’s midday. Prices faded to as much as $6.87 1/2 December, before squaring up at midday.
USDA reported 372,220 MT of corn was sold for export during the week that ended 10/27. That was up 41% from the week prior and was inline with estimates. The weeks shipments were 450k MT, bringing the accumulated total to 4.145 MMT. The full season’s commitments were 14.467 MMT – compared to 31 MMT at the same time last season.
For sorghum, FAS had 12k MT sold – an 11-wk high. Shipments of 9,236 MT brought the season’s total to 44k MT compared to 269k MT during last year’s pace.
Dec 22 Corn is at $6.82, down 5 1/2 cents,
Nearby Cash is at $6.77 1/2, down 6 cents,
Mar 23 Corn is at $6.87 1/4, down 5 1/2 cents,
May 23 Corn is at $6.87 1/4, down 5 1/4 cents,
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.
