Corn showing strength in the March and May contracts, while the new crop futures are fractionally to 1 1/2 cents in the red.Â
USDA announced a 195k MT old crop sale to Mexico this morning. Going into the weekly FAS report traders estimate that between 250k MT and 800k MT of corn was sold during the week that ended 1/12. For new crop, corn bookings are expected to be below 100k MT.Â
EIA’s data showed ethanol producers averaged 1.008m barrels of ethanol were produced on average per day through the week that ended 1/13. That was another 65k barrels per day higher through the week. Ethanol stocks were 398k barrels lower through the week than the week prior.Â
Ukraine’s Ag Ministry reported 13.8 MMT of corn was exported for the season through 1/16 – a volume that remains 6.1% higher yr/yr.Â
China brought in 870k MT of corn in December according to their Customs data. That was down 34.9% from December 2021. Full year imports ended the year at 20.62 MMT, a 27.3% drop from 2021.Â
Mar 23 Corn  is at $6.82 3/4, up 1 1/2 cents,
Nearby Cash  is at $6.86 5/8, up 1 3/8 cents,
May 23 Corn  is at $6.79, down 1/4 cent,
Jul 23 Corn  is at $6.67, down 1 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. For more information please view the Barchart Disclosure Policy here.
/A%20Palantir%20office%20building%20in%20Tokyo_%20Image%20by%20Hiroshi-Mori-Stock%20via%20Shutterstock_.jpg)
/Adobe%20Inc%20logo%20on%20computer-by%20DANIEL%20CONSTANTE%20via%20Shutterstock.jpg)
/Micron%20Technology%20Inc_billboard-by%20Poetra_RH%20via%20Shutterstock.jpg)
