The Monday start to the Thanksgiving holiday week has the board 2 3/4 to 4 1/2 cents in the red so far. December corn options expire on Friday and the 30th marks First Notice Day for deliveries.Â
Weekly Export Inspections data showed 495,395 MT of corn was shipped during the week that ended 11/17. That was down from 535k MT last week and from 826k MT during the same week last year. The majority of the corn left via the MS River (66%). China and Mexico were the top destinations each with over 150k MT. USDA had the season total at 5.48 MMT through 11/17, trailing last year by 2.35 MMT.Â
Russia’s IKAR expects 2.5 MMT of corn will be shipped during the 22/23 campaign.Â
The International Grains Council left their world corn production forecast at 1.166b MT. Trade was reduced by 2 MMT to 170 MMT. Estimated ending stocks were 1 lighter to 257 MMT.Â
Dec 22 Corn  is at $6.63, down 4 3/4 cents,
Nearby Cash  is at $6.69 3/8, down 4 3/8 cents,
Mar 23 Corn  is at $6.66 1/4, down 3 3/4 cents,
May 23 Corn  is at $6.64 1/2, down 3 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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