Corn futures are heading into the last trade day of the week UNCH to fractionally lower on Friday morning. The corn futures market spent most of the Thursday session in the black while in a narrow 4 ¾ cent range. Futures were 2 to 2 ¾ cent higher on the day. Net new selling interest was noted, with preliminary open interest rising 4,875 contracts.
The weekly Export Sales report showed 1.013 MMT of corn was booked during the week that ended 12/14. That was within the range of estimates going into the report, and was the 7th consecutive 1+ MMT week. Mexico and Japan were the top buyers for the week, each with over 300k MT. Total commitments reached 28.2 MMT (1.12 bbu), which is 37% ahead of last year’s pace. USDA’s S&D forecast has a 26.4% yr/yr growth in exports currently dialed in.
Mar 24 Corn closed at $4.72 1/2, up 2 3/4 cents, currently UNCH
Nearby Cash was $4.45 7/8, up 2 7/8 cents,
May 24 Corn closed at $4.85 1/4, up 2 3/4 cents, currently down 1/4 cent
Jul 24 Corn closed at $4.95, up 2 1/2 cents, currently down 1/4 cent
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.
/Microsoft%20Corporation%20logo%20on%20sign-by%20Jean-Luc%20Ichard%20via%20iStock.jpg)
/Micron%20Technology%20Inc_%20logo%20on%20building-by%20vzphotos%20vis%20iStock.jpg)
/NVIDIA%20Corp%20logo%20on%20phone-by%20Evolf%20via%20Shutterstock.jpg)
/Tesla%20Inc%20tesla%20by-%20Iv-olga%20via%20Shutterstock.jpg)