Corn futures are trading mid-ranged with 1 to 3 cent losses across the front months. Dec traded back above the $5 mark earlier in the session, but is below the round number at midday.
NOAA’s updated 7-day QPF has rain in the Southern ECB through MO with as much as 2” expected. Nebraska, KS, and IA will also catch at least 3/4” through the week.
USDA reported a private export sale this morning for 251,460 MT of corn to Mexico for 23/24 delivery.
Weekly Export Inspections data showed 376,623 MT of corn was shipped during the week that ended 8/3. That was down from 538k MT last week and from 555k MT during the same week last year. Mexico was the top destination with nearly 60% of the total. USDA reported the season’s total shipment reached 35.2 MMT, down 33% year over year.
The weekly report also had 33,529 MT of sorghum shipped to South Africa. Total milo shipments remained 68% behind last year’s pace with 2.34 MMT.
Sep 23 Corn is at $4.81, down 3 1/4 cents,
Nearby Cash is at $5.21 3/4, down 3 1/4 cents,
Dec 23 Corn is at $4.94 1/2, down 2 3/4 cents,
Mar 24 Corn is at $5.07 3/4, down 2 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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