Corn Many Kernels
Corn is mostly lower so far, though July futures are up by a penny. The other contracts are fractionally to 2 cents in the red so far.
USDA’s weekly Export Inspections report had 315,639 MT of old crop corn cancelations. That was within the range of pre-report estimates and was led by 563k MT canceled by China. Japan, Taiwan, Guatemala, Colombia, and Mexico were net buyers. New crop corn bookings were reported at 120k MT, led by sales to Mexico. New crop forward sales sit at 2.54 MMT, or 49% below last year’s volume.
May 23 Corn is at $6.45, down 1/4 cent,
Nearby Cash is at $6.21 3/4, up 3/8 cent,
Jul 23 Corn is at $5.89, up 1/2 cent,
Dec 23 Corn is at $5.28 3/4, down 1 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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