Corn is trading fractionally mixed but mostly lower ahead of the weekly Export Sales report. Overnight trade kept March in a 3 1/4 cent range. As a reminder the market will be closed Monday, with a hard open on Tuesday in recognition of the new year. Futures leaked lower on Thursday, with old crop corn closing 2 to 3 1/2 cents in the red. March is still a net 13 1/4 cents higher for the week. New crop futures ended the day fractionally to a penny higher. Dec corn is still a 67 cent discount to the lead month, and is at a net 10 3/4 cent gain for the week.
Analysts expect USDA’s weekly Export Sales report will show between 600k MT and 850k MT of old crop corn was sold during the week that ended 12/22. No new crop sales are expected.
EIA data showed ethanol producers averaged 963k barrels of output per day through the week that ended 12/23. That was down by 66k barrels per day from last week. Stocks rose 569k barrels to 24.636 million.
Mar 23 Corn closed at $6.79 1/2, down 3 1/4 cents, currently up 1/4 cent
Nearby Cash was $6.85 ¼ on Thursday, down 4 5/8 cents,
May 23 Corn closed at $6.79, down 2 1/2 cents, currently down 1/4 cent
Jul 23 Corn closed at $6.72 3/4, down 2 cents, currently down 1/2 cent
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.
/Unitedhealth%20Group%20Inc%20%20phone%20and%20site-by%20T_Schneider%20via%20Shutterstock.jpg)
/Alphabet%20Inc_%20and%20Google%20logos%20seen%20displayed%20on%20a%20smartphone%20by%20IgorGolovniov%20via%20Shutterstock.jpg)
