Corn is starting out Friday with 2 to 2 3/4 cent losses vs. the Thursday close. The corn market pulled back on Thursday, though new crop prices again held relatively firm. New crop corn contracts ended with 1 1/4 to 1 3/4 cent losses to the nearby contracts’ nickel loss, while old crop contracts were down 5 cents or more.
USDA reported 1.593 MMT of corn was sold for export during the week that ended 1/26. That was up by 75% for the week, 36% from the same week last year and, and was above the expected range of estimates. Mexico, China, and Unknown destinations were the top buyers for the week. Corn commitments for the season were 25.632 MMT, or 1 billion bushels. New crop sales were 163k MT, mostly for Mexico.
Mar 23 Corn closed at $6.75 1/4, down 5 3/4 cents, currently down 2 3/4 cents
Nearby Cash was $6.78 ¼ on Thursday, down 5 7/8 cents,
May 23 Corn closed at $6.73 3/4, down 5 3/4 cents, currently down 2 1/2 cents
Jul 23 Corn closed at $6.63, down 5 cents, currently down 2 1/4 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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