Corn futures are mixed through midday, following yesterday’s approach. July is again the outlier with a nickel gain at midday. The other front month futures are fractionally to a penny in the red.
USDA’s FAS reported 172,709 MT of old crop corn bookings for the week that ended 6/1. That was slightly below last week and was 61% of the same week last year. New crop saw 107k MT of net cancelations mostly via Mexico. Commitments were at 38.34 MMT for old crop and 2.96 MMT for new crop as of 6/1.
The monthly Census data had 199.2 mbu of corn exports for the month of April, for a season’s total of 1.073 bbu, or 60% of USDA’s forecasted 1.775 billion.
South Korea’s NOFI is looking for 138k MT of corn via tender.
Jul 23 Corn is at $6.10 1/4, up 6 cents,
Nearby Cash is at $6.32 7/8, up 1 5/8 cents,
Sep 23 Corn is at $5.23 3/4, down 1 1/4 cents,
Dec 23 Corn is at $5.28 1/2, 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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