Morning corn prices show fractional weakness in new crop contracts and fractional to 2 cent gains in the nearbys so far into the midweek session. May saw an overnight range of 5 cents. Â Corn continued lower on Tuesday. Old crop again led the way with double digit drops of 11 1/2 to 13 1/4 cent losses. New crop ended with 1.1% losses of 6 to 7 1/2 cents. The average close of Dec corn through February was $5.91 1/4.Â
There were 352 delivery notices vs. March corn overnight, with the largest number going from RJO clients to JPM clients.Â
Ukrainian Black Sea grain exports were reported at 525,688 MT for the week ending 2/26. That was down from 760k MT last week and brought the total shipments under the corridors agreement to 22.5 MMT of grain.Â
Safras and Mercado had Brazil’s 1st corn crop at 27.6% harvested as of 2/24. That trails last year’s 39% pace, but is above the 5-yr average pace of 25%. The 2nd crop planting pace was marked at 39% for the Center-South region, compared to 48.7% on average.Â
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Mar 23 Corn  closed at $6.29 1/2, down 13 1/4 cents, currently up 1/4 cent
Nearby Cash  was $6.29 1/1, down 13 3/8 cents,
May 23 Corn  closed at $6.30 1/4, down 13 1/4 cents, currently up 1 1/4 cents
Jul 23 Corn  closed at $6.22 1/4, down 11 1/2 cents, currently up 1 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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