Corn is posting sharp losses to start the new week, as losses in wheat is a weight on the market. Futures are down 7 to 9 cents across most front months. In related news, preliminary open interest for December futures sank 43,827 contracts on long liquidation. Overall, OI dropped 24,549 contracts.Â
The Monday morning Export Inspections report showed 406,680 MT (16.01 mbu) of corn shipped during the week ending on November 23. That was 30.49% higher compared to the same week last year, but down 32.34% from the week prior. Total shipments this MY have totaled 7.267 MMT (286.12 mbu), a 25% increase over the same period last year. Inspections of sorghum totaled 280,532 MT, with 279,262 MT of that headed to China.Â
AgRural pegged Brazil’s first corn crop at 83% planted in the center south region as of Last Thursday, which lags last year’s 88% pace. Â
Dec 23 Corn  is at $4.54 1/2, down 8 3/4 cents,
Nearby Cash  is at $4.30 1/8, down 8 5/8 cents,
Mar 24 Corn  is at $4.73 3/4, down 8 3/4 cents,
May 24 Corn  is at $4.85 3/4, down 8 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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