So far through Monday the corn market is trading 5 to 14 1/2 cents higher. The July contract is sitting 6 1/2 cents off the earlier high, but still up by double digits. The other nearby contracts are also slightly below their intra day highs on 5-7 cent gains.
USDA’s weekly Export Inspections data showed 1.323 MMT of corn was shipped during the week that ended 5/18. That was up 150k MT from last week but was 430k MT from the same week last year. USDA marked Japan as the top destination with 38% of the total. The season’s total export was 27.375 MMT, trailing last year’s pace by 13.5 MMT (33%).
Jul 23 Corn is at $5.68, up 13 1/2 cents,
Nearby Cash is at $5.99 1/2, up 13 5/8 cents,
Sep 23 Corn is at $5.01 3/4, up 7 1/4 cents,
Dec 23 Corn is at $5.06 1/4, up 6 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.
/NVIDIA%20Corp%20logo%20on%20phone-by%20Evolf%20via%20Shutterstock.jpg)
/Semiconductor%20chip%20by%20Mykola%20Pokhodzhay%20via%20iStock.jpg)