Corn futures are fading off the early morning weakness, with contracts up 1 to 2 cents at Monday’s midday. The CmdtyView national average Cash Corn price is up 2 cents at $4.15 1/2.
Monday morning’s Export Inspections report showed 2.002 MMT (78.82 mbu) of corn shipped in the week of 4/2. That was 24.09% above the same week last year and 6.50% larger than the same week last year. Mexico was the largest destination of 540,498 MT, with 401,862 MT shipped to Japan and 200,076 MT to Colombia. The marketing year total is now 48.47 MMT (1.908 bbu) of corn shipped since September 1, which is 35.82% above the same period last year.
Friday’s Commitment of Traders report showed 16,574 contracts trimmed from the managed money net long position as of March 31 to 267,974 contracts.
May 26 Corn is at $4.54 1/4, up 2 cents,
Nearby Cash is at $4.15 1/2, up 2 cents,
Jul 26 Corn is at $4.65, up 1 3/4 cents,
Dec 26 Corn is at $4.82 1/4, up 1 cent,
New Crop Cash is at $4.39 1/4, up 1 1/2 cents,
On the date of publication, Austin Schroeder 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. For more information please view the Barchart Disclosure Policy here.
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