Corn futures are holding up at midday, considering the grain counterparts, with contracts down 2 to 4 cents. An export sale may be helping the bulls out. The national average Cash Corn price from cmdtyView is down 2 cents at $4.02 1/4 per bu.Â
USDA reported a private export sale of 110,500 MT of corn to Mexico for 2024/25 delivery this morning.
The weekly Export Inspections report from FGIS showed 793,012 MT (31.22 mbu) of corn exported in the week of November 7. That was down from the week prior’s total by 0.58%, but up 10.35% from the same week last year. Of that total, 393,104 MT was shipped to Mexico, with 136,377 MT to Columbia. Marketing year shipments are at 8.235 MMT (324.2 mbu), which is now 31.32% above the same period last year.Â
Algeria purchased 160,000 MT of South American corn in their recent tender. ANEC projected the Brazilian corn exports to total 5.38 MMT in November, which is a 0.61 MMT increase from last week’s estimate.
Dec 24 Corn is at $4.27 3/4, down 2 1/4 cents,
Nearby Cash is at $4.02 1/2, down 2 cents,
Mar 25 Corn is at $4.39 1/2, down 3 1/4 cents,
May 25 Corn is at $4.46 1/4, down 3 1/2 cents,
On the date of publication, Austin Schroeder 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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