Friday trading has corn futures 1 to 4 cents lower so far. Front month corn futures ended the Thursday session with 1 3/4 to 2 1/2 cent gains for new crop and as much as 7 3/4 cent gains for old crop as the bull spreads were working. The new crop discount is now 92 1/2 cents March to Dec.Â
The BAGE reported corn condition ratings for Argentina at 12% good/excellent, from 5%, and 39% poor, improved from 47% last week by recent rains.Â
US Corn export sales for the week that ended 1/19 were 910,400 MT. That was a drop of 20% from last week but was within the range of estimates. Corn export shipments were reported at 912.6k MT for the week, leaving the accumulated export at 12.012 MMT of the season. Total corn commits were 946.36 mbu through 1/19 – or 50% of USDA’s full year forecast.Â
Mar 23 Corn  closed at $6.82 1/2, up 7 3/4 cents, currently down 3 3/4 centsÂ
Nearby Cash  was $6.85 on Thursday, up 7 3/4 cents,
May 23 Corn  closed at $6.80, up 6 3/4 cents, currently down 3 3/4 cents
Jul 23 Corn  closed at $6.68, up 4 3/4 cents, currently down 4 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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