Midday corn prices are 4 3/4 to 6 3/4 cents higher so far for Monday. NASS will update the market on planting progress after the close. New crop futures remain a $1.07 discount to the May.
NOAA’s 7-day QPF has rain in the ECB from 2 1/2” in WI to 1” for OH. Most of the accumulation will be between the Missouri and Mississippi rivers.
USDA reported 1.215 MMT of corn shipments for the week that ended 4/13. That was up from 840k MT last week and was 32k MT above the same week last year. Japan and Mexico were the week’s top destinations. USDA added 34k MT to past reports which brought the season’s total to 21.424 MMT. That is still 11.82 MMT behind last year’s pace.
May 23 Corn is at $6.72 1/2, up 6 1/4 cents,
Nearby Cash is at $6.71 5/8, up 4 1/8 cents,
Jul 23 Corn is at $6.38 3/4, up 3 cents,
Dec 23 Corn is at $5.64 3/4, up 4 3/4 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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