Midday corn futures are fractionally lower to 1 1/4 cents in the red for Tuesday of this holiday week.
Dalian Corn Prices remain strong despite the dollar’s strength yesterday, rising from 2,813 yuan/MT (~$9.97/bushel) on Friday to 2,841 yuan/MT (~$10.11/bu).
Ukraine’s corn harvest was nearing 50% complete. Reports from the Black Sea point out that Russia has officially no stance on the grain export corridor deal and its renewal, despite the original deal expiring on the 19th. The default was to re-run the agreement between Turkey, Ukraine, Russia, and the U.N. for an additional 120 days and the market is treating it that way.
Dec 22 Corn is at $6.59 1/4, down 1/4 cent,
Nearby Cash is at $6.66, down 0 cent,
Mar 23 Corn is at $6.62 1/4, down 1 1/4 cents,
May 23 Corn is at $6.61 1/4, down 1 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.
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