After a red start to the midweek session (removing uncertainty premium from the Poland / Black Sea war news), futures have rebounded to just 1 to 2 3/4 cents in the red. New crop December corn is trading fractionally higher.
USDA’s NASS has permanently moved to report FSA related acreage changes in September instead of October, as per an announcement via the Data Users meeting – recall NASS had released the data a month early this year citing sufficient data to do so.
USDA reported a 1.867 MMT corn sale to Mexico this morning, with 1.242 MMT for 22/23 delivery and the remaining 625k MT for 23/24.
The European Commission reported MYTD corn imports, at 10.85 MMT through 11/13, are more than double last year’s pace.
Weekly EIA data showed ethanol producers averaged 1.011 million barrels per day of output through the week that ended 11/11. That was down 40k barrels per day from the week prior. Stocks were down 894k barrels to 21.298 million.
Dec 22 Corn is at $6.64 1/4, down 2 1/2 cents,
Nearby Cash is at $6.66, down 7/8 cent,
Mar 23 Corn is at $6.66 1/2, down 2 3/4 cents,
May 23 Corn is at $6.65 3/4, down 2 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.
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