Corn prices are trading a penny to 1 ¾ cents in the red across the front months in early Tuesday futures trading. The entirety of May’s 2 ¼ cent overnight range was spent in the red. Front month corn futures were fractionally weaker at the close on Monday, save for the lead month May’s contract which was 1 ½ cents weaker at the bell. Preliminary open interest rose 7,8893 contracts on Monday as speculators added positions ahead of Thursday’s quarterly reports and localized cash grain movement was also noted.
Corn planting in TX reached 46% finished as of 3/24 which was up 12% points for the week and is now 3% points ahead of average. TX milo was 37% planted as of 3/24, which is 1% point ahead of average.
USDA’s weekly Export Inspections data had 1.23 MTM of corn shipments for the week that ended 3/21. That was a slight decrease from 1.33 MMT last week, but was nearly double the same week last year. The accumulated export reached 24.4 MMT compared to 18.3 MMT for last year.
May 24 Corn closed at $4.37 3/4, down 1 1/2 cents, currently down 3/4 cent
Nearby Cash was $4.15 1/2, down 1 1/8 cents,
Jul 24 Corn closed at $4.51 1/4, down 3/4 cent, currently down 1 1/2 cents
Dec 24 Corn closed at $4.74 3/4, down 1/2 cent, currently down 1 1/2 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.
/Super%20Micro%20Computer%20Inc%20logo%20on%20building-by%20Poetra_RH%20via%20Shutterstock.jpg)
