Corn futures are up another 2 to 4 3/4 cents after the strength on Tuesday to start the short week. Overnight prices were down by 2 cents.
EIA’s weekly report is scheduled for release tomorrow with a delay for the Monday holiday.
Anec expects the December corn export from Brazil will be 6.191 MMT, down from their prior 6.579 MMT forecast. Ukraine’s Ag Ministry reported the season’s corn shipments at 12.2 MMT through 12/28, an 18% lead from last year’s pace. Their all grain shipments are down 30% MYTD.
USDA’s weekly Export Inspections data showed 856,606 MT of corn was inspected for export during the week that ended 12/22. That was up from 827k MT last week, but down by 98k MT from the same week last year. Mexico and China were the top destinations for the week, combining for nearly 80% of the total. The weekly report also added 83.5k MT of corn shipments to past weeks, for 8.84 MMT for the season’s total export – compared to 12.3 MMT at the same time last year.
Mar 23 Corn is at $6.79 1/4, up 4 1/2 cents,
Nearby Cash is at $6.87, up 5 3/8 cents,
May 23 Corn is at $6.78, up 4 3/4 cents,
Jul 23 Corn is at $6.71, up 4 3/4 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.
/Alphabet%20Inc_%20and%20Google%20logos%20by%20IgorGolovinov%20via%20Shutterstock.jpg)
/Stickers%20with%20AMD%20Radeon%20and%20Nvidia%20GeForce%20RTX%20graphics%20on%20new%20laptop%20computer%20by%20Piotr%20Swat%20via%20Shutterstock.jpg)
/Unitedhealth%20Group%20Inc%20HQ%20photo-by%20jetcityimage%20via%20iStock.jpg)