The midweek corn session ended the day with fractional to 1 3/4 cent losses. That came after futures had fallen by over 9 cents at the day’s low. For the week Dec corn is currently up 7 1/4 cents. Red Dec ended the day with a fractional gain, now under spot price by 50 3/4 cents.
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. Ahead of the weekly Export Sales report, traders expect old crop corn sales from the week that ended 11/10 were between 700k MT and 1.4 MMT. New crop bookings are expected to be below 100k MT.
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 closed at $6.65 1/4, down 1 1/2 cents,
Nearby Cash was $6.67 1/4, up 3/8 cent,
Mar 23 Corn closed at $6.67 1/2, down 1 3/4 cents,
May 23 Corn closed at $6.66 1/4, down 1 1/2 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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