Corn futures have been trying to hang around unch, but are down 2 to 3 ¾ cents at midday to start the new week. The Monday session started off with some volatility, trading on both sides of unch.
There were 8 delivery notices vs. March corn over the weekend, with ADM stopping 7 for the house account. The oldest dated long is February 28.
The Monday morning Export Inspections report tallied shipments during the week that ended on March 9 at 999,388 MT, or 39.34 mbu. That was down 12.85% vs. the same week last year but was up 7.08% on the week and is the largest weekly total since last July. Japan was the largest destination, with 327,180 MT, with 231,673 MT headed to Mexico. Inspections YTD are still lagging by 37.08% vs. 21/22 at 16.32 MMT (642.44 mbu).
AgRural pegged Brazil’ second crop corn at 82% planted in the center-South region, compared to 94% for the same date last year.
May 23 Corn is at $6.13 1/2, down 3 3/4 cents,
Nearby Cash is at $6.15 1/2, down 3 1/2 cents,
Jul 23 Corn is at $6.02 3/4, down 3 3/4 cents,
Sep 23 Corn is at $5.63 1/4, 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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