Front month corn futures are trading a penny to 2 ¾ cents lower through Monday’s midday. Futures were initially higher out of the weekend before giving it back.
USDA’s weekly Export Inspections data showed the 531,516 MT of corn was shipped during the week of 10/26. That was up from 450k MT during both last week and the same week last year. The season’s total reached 4.945 MMT (195 mbu), compared to 4.216 MMT (166 mbu) last season.
Argentina is seeing better rainfall, and 22% of the corn crop is now seeded there. The BAGE is sticking with a 7.3 million HA planted acreage figure.
Dec 23 Corn is at $4.78 1/2, down 2 1/4 cents,
Nearby Cash is at $4.50, down 2 1/8 cents,
Mar 24 Corn is at $4.92 1/2, down 2 3/4 cents,
May 24 Corn is at $5.00 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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