The midday corn market is working within a penny of UNCH through Monday’s midday. Dec is the exception through the delivery process with a 5 cent loss. March saw an overnight range that was mostly lower from -4 ¾ to +¼ cents.
The daily reporting system had a 267,044 MT private corn sale to Mexico.
USDA reported 1.158 MMT of corn was shipped during the week that ended 11/30. That was a major increase from 409k MT last week and was 324k MT above the same week last year. USDA listed Mexico, China, and Colombia as the top destinations. After revising past reports higher, the export total for the season was up to 8.248 MMT – a 26.7% increase over last year’s pace.
Canada reported the 2023 corn output at 15.08 MMT, compared to 14.54 LY and the 15 MMT average pre-report estimate. USDA’s WAOB is at 15.3 MMT as of the Nov WASDE.
StoneX figures Brazil’s first crop corn output at 26.45 MMT (from 26.77 previously), and their second crop production at 97.33 MMT (down from 98.96 MMT).
Dec 23 Corn is at $4.59 1/2, down 5 cents,
Nearby Cash is at $4.52 3/4, up 1/4 cent,
Mar 24 Corn is at $4.85, up 1/4 cent,
May 24 Corn is at $4.96 3/4, unch,
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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