Current corn prices are trading fractionally to 1 ¼ cents lower so far for Wednesday. The overnight action kept March in a tight 2c range – though entirely in the red. Monday’s corn market ended the day with 4 ¾ to 7 ¼ cent gains across the front months. Prices were at or near the highs for the day closing out the first session after the holiday weekend.
USDA’s weekly Export Inspections data showed 1.08 MMT (42.58 mbu) 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 closed at $4.80 1/4, up 7 1/4 cents, currently down 1 1/4 cent
Nearby Cash was $4.53 1/1, up 7 3/8 cents,
May 24 Corn closed at $4.92 1/4, up 6 1/2 cents, currently down 1 cent
Jul 24 Corn closed at $5.01 1/2, up 6 cents, currently down 1 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.
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