Midday prints have corn at the highs for the day on 3 ½ to 5 ½ cent gains. The New crop contracts are still a 30c carry to March.
Dalian Corn Prices 32 yuan higher to 2,437/MT (~$8.66/bu) on Monday while the CME was closed. New crop corn in China also firmed up yesterday, though is now an 11 yuan/MT discount to spot.
USDA’s weekly Export Inspections data showed 1.08 MMT (42.58 nbu) of corn was exported during the week that ended 12/21. Mexico and Colombia were the top destinations with over 200k MT each. The season’s total export was up to 11.235 MMT (442 mbu). That compares to 351 mbu last year, but trails the 483 mbu 5-yr average total.
Mar 24 Corn is at $4.78 1/2, up 5 1/2 cents,
Nearby Cash is at $4.51, up 5 1/2 cents,
May 24 Corn is at $4.90 1/2, up 4 3/4 cents,
Jul 24 Corn is at $5.00 1/4, up 4 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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