Front month corn futures are sitting on 3.1% to5.5% gains through midday to start the week. The December contract is up 28 1/4 cents so far and only 2c under the session high.
The weather leans hotter this week with the NOAA 7-day QPF showing limited rainfall. Light accumulations for the ECB of ~1” and some E. SD/NE are all that register.
USDA reported 309,981 MT of corn was shipped during the week that ended 7/20. That was down 101.5k MT from the week prior and down by 444k MT from the same week last year. Mexico was the week’s top buyer. The inspections report had the season’s accumulated shipment at 34.232 MMT, compared to 51.08 MMT at the same point last year.
Sep 23 Corn is at $5.55 3/4, up 28 3/4 cents,
Nearby Cash is at $5.99 3/8, up 28 3/4 cents,
Dec 23 Corn is at $5.63 3/4, up 27 1/2 cents,
Mar 24 Corn is at $5.74 1/2, up 27 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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