Corn is trading 2 to 3 cents lower this morning, with expiring March down ½ cent. Futures found some old crop selling interest to start the week, with the front months fractionally to 3 ¾ cents lower. Deferred contracts for the 24 crop and beyond were up 3 ¼ to 3 ¾ cents. March futures will expire today, with a single delivery notice against March corn overnight, stopped by ADM.
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% from last week and was 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 closed at $6.13 1/2, down 3 3/4 cents, currently down 2 3/4 cents
Nearby Cash was $6.15 5/8 on Monday, down 3 3/8 cents,
Jul 23 Corn closed at $6.03, down 3 1/2 cents, currently down 2 1/2 cents
Sep 23 Corn closed at $5.63 3/4, down 1 3/4 cents, currently down 2 1/2 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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