Corn is starting off a Turnaround Tuesday attempt with contracts 2 to 5 cents higher. Corn markets ended Monday with 1.4% to 1.6% losses attributed mostly to South American weather improvements. Argentina saw as much as 3.5 inches of rain through the past week in key growing areas. At the close March futures were a nickel off their low for the day but still down a dime per bushels. Â
Crude Oil futures were 2 cents lower on the day after seeing $82.62/bbl prints earlier during the session. That was the highest price since December 5th.
USDA’s weekly inspections for corn totaled 727,643 MT for the week that ended 1/19. That was slightly below last week’s 779,788 MT shipment and was under the same week last year by 39%. USDA has accumulated corn exports at 11.51 MMT through 1/19, compared to 16.514 MMT last year.Â
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Mar 23 Corn  closed at $6.66 1/4, down 10 cents, currently up 5 cents
Nearby Cash  was $6.68 3/8 on Monday, down 10 1/4 cents,
May 23 Corn  closed at $6.65, down 9 1/2 cents, currently up 4 ½ cents
Jul 23 Corn  closed at $6.54 1/4, down 9 1/4 cents, currently up 4 ¼ 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. For more information please view the Barchart Disclosure Policy here.
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