Corn ended the Thursday session off the lows, with fractional losses in the deferred contracts. Dec and Sep were lower, but still held losses to less than 5 cents.Â
USDA reported 22.7k MT of old crop corn cancelations. Mexico was a net buyer, but the 15k MT were offset by cancelations from Colombia. New crop bookings were 673.5k MT for the week that ended 8/17. That was down from 705k MT last week, but was above the expected range. Weekly data had forward bookings at 7.352 MMT – which remains 21% behind last year’s pace.Â
South Korea’s NOFI booked 68k MT of corn via tender. The MFG purchased 66k MT. Taiwan’s MFIG booked 65k MT of corn from Brazil. Egypt’s GASC canceled a tender for corn citing high prices.Â
Weekly EIA data showed ethanol producers averaged 1.048 million bpd during the week that ended 8/18. That was a 21k bpd drop from the week prior’s output. Ethanol stocks tightened by 645k barrels to 22.79 million.Â
Day 3 of the ProFarmer Crop Tour put the Illinois average corn yield at 193.72 bpa, 0.82% above the 3-year average. Partial results for Iowa showed a 182.58 bpa average, up 0.26% from the 3 year average for that District.Â
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Sep 23 Corn  closed at $4.72 1/4, down 4 cents,
Nearby Cash  was $5.06 7/8, down 5 1/8 cents,
Dec 23 Corn  closed at $4.88 1/4, down 2 1/4 cents,
Mar 24 Corn  closed at $5.03, down 3/4 cent,
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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