Corn futures are showing slight losses on Monday, despite an export sale announcement form USDA this morning. Contracts are down 1 to 1 ¾ cents in the front months. Note, the Dec options expire on Friday and the market settles early @ 12:05 CST.
USDA reported a flash Export Sale announcement of 104,000 MT of corn to Mexico for 23/24 delivery this morning.
Export Inspections data from Monday morning showed 553,899 MT (21.8 mbu) of corn shipped during the week that ended on November 16. That was a 21.7% drop from last week’s revised (98,564 MT higher) total, but was a 10.995 increase vs. the same week last year. A large chunk of that was to Mexico, with 334,278 MT in shipments. YTD US corn shipments since September 1 have totaled 6.81 MMT (268.23 mbu) to all destinations, which is a 24% increase compared to a year ago.
AgRural reported first crop corn planting in the Center-South region of Brazil at 80% complete as of last Thursday. That is nearing the 82% pace from last year.
Dec 23 Corn is at $4.65 1/2, down 1 1/2 cents,
Nearby Cash is at $4.39 3/8, down 1 1/2 cents,
Mar 24 Corn is at $4.83 1/2, down 1 3/4 cents,
May 24 Corn is at $4.94 1/4, down 1 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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