Corn futures are slipping lower on the Friday lame duck session, with contracts down 1 to 2 cents midway through the session. Preliminary open interest from Wednesday shows long liquidation, dropping 5,116 contracts on the lower futures. December options expire today.
USDA’s delayed Export Sales report tallied corn bookings in the week that ended on November 16 at 1.432 MMT. That was on the high side of trade estimates of 700,000 MT and 1.6 MMT. It was a back off from last week’s large total, but still the third largest week of sales this Marketing Year.
The Biden Administration’s EPA denial of hardship waivers for small refineries was struck down by a US appeals court on Wednesday.
Dec 23 Corn is at $4.67, down 1 3/4 cents,
Nearby Cash is at $4.42 3/8, down 1 5/8 cents,
Mar 24 Corn is at $4.85 3/4, down 2 cents,
May 24 Corn is at $4.97 1/2, down 1 1/2 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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