Corn pushed to new highs for the month in the old crop contracts, breaching $6.80 March for the first time since November 8th. At the close prices were 4 3/4 to 8 1/2 cents in the black. New crop Dec closed at $6.11 – a 71 cent discount to the lead month, and the highest mark since 11/30.
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.
Mar 23 Corn closed at $6.82 3/4, up 8 cents,
Nearby Cash was $6.90 7/8, up 8 1/8 cents,
May 23 Corn closed at $6.81 1/2, up 8 1/4 cents,
Jul 23 Corn closed at $6.74 3/4, up 8 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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