Corn futures ended the last trade of the week with double digit gains just off the daily highs. December was up 13 1/4 cents on the day and 19 1/4 cents for the week. July corn futures expired at $5.99 3/4 cents, a 93 1/4 cent premium to the now lead month Sep.Â
USDA’s weekly Ethanol report had cash ethanol prices were 2 to 10 cents higher for the week from $2.30 to $2.42/gal regionally. Cash DDGs traded from $185 to $215 through the week, mostly $5-10/ton lower. Corn oil quotes were mostly 3 to 7 cents higher this week from 58 to 66 cents/lb regionally.Â
South Korea’s MFG reportedly booked 68k MT of corn via tender – to be sourced from South America.Â
CONAB reported Brazilian corn production was 127.8 MMT, just a 2.05 MMT increase from the previous estimate and well below USDA’s 133 MMT. They had 2nd crop specifically as 98.04 MMT. CONAB raised total output via a 1.66 bpa equivalent yield boost to 91.51 bpa for 2nd crop. Buenos Aires Grains Exchange reported that 58% of corn fields were harvested, maintaining their 34 MMT estimate. USDA has Argentina corn at 34 MMT as well.Â
Sep 23 Corn  closed at $5.06 1/2, up 13 cents,
Nearby Cash  was $5.52 1/4, up 14 cents,
Dec 23 Corn  closed at $5.13 3/4, up 13 1/4 cents,
Mar 24 Corn  closed at $5.25 1/2, up 13 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.
/AI%20(artificial%20intelligence)/Data%20Center%20by%20Caureem%20via%20Shutterstock%20(2).jpg)
/PayPal%20Holdings%20Inc%20HQ%20photo-by%20bennymarty%20via%20iStock.jpg)
/Micron%20Technology%20Inc_%20logo%20on%20building-by%20vzphotos%20vis%20iStock.jpg)
