Midday corn prints are 5 to 6 ¾ cents in the red, and sitting at the session lows to start the week. That has March contracts sitting at the lowest prints for the month, and now just 20 cents to the Dec expiration gap.
USDA’s weekly Export Inspections data showed 947,418 MT (37.3 mbu) of corn was shipped during the week that ended 12/14. That was a 31% increase for the week and a 15% larger volume than the same week last year. Mexico, China, Japan and Colombia each received more than 100k MT of the total. USDA had the season total export listed at 10.14 MMT (399 mbu), which remains 27% ahead of last year’s pace.
Milo exports were shown at 270k MT for the week, nearly exclusively to China, for a season total of 1.7 MMT. That remains well ahead of the 361k MT shipped YTD last season.
Mar 24 Corn is at $4.77 3/4, down 5 1/4 cents,
Nearby Cash is at $4.49 3/8, down 5 1/8 cents,
May 24 Corn is at $4.90 1/4, down 5 cents,
Jul 24 Corn is at $4.99 3/4, down 5 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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