Corn quotes are mixed within a penny of UNCH so far on Wednesday. The overnight saw March stay within a 5 1/4 cent range. March corn futures saw their highest price since early November with a 10 1/4 cent gain on Tuesday. The other nearbys also added to the upside with 5 to 9 cent gains.Â
Weekly Inspections data showed 774k MT of corn was shipped during the week that ended 1/12. That was up from 401k MT from the prior holiday week, but under the same week last year’s 1.24 MMT shipment. China and Mexico were again the top destinations for the week, each with over 200k MT of the total, Japan was also shipped +100k MT. The weekly report had 10.776 MMT of accumulated corn exports – trailing last year’s pace by 4.55 MMT.Â
Ukraine’s Ag Ministry reported 15% of 22/23 corn remains un-harvested, citing both quality concerns and harvest issues stemming from both weather and the invasion.Â
Mar 23 Corn  closed at $6.85 1/4, up 10 1/4 cents, currently up 1/4 centÂ
Nearby Cash  was $6.89 ¾ on Tuesday, up 9 1/4 cents,
May 23 Corn  closed at $6.82 3/4, up 9 cents, currently up 3/4 cent
Jul 23 Corn  closed at $6.72 1/2, up 8 3/4 cents, currently UNCH
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. For more information please view the Barchart Disclosure Policy here.
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