Corn futures are trading with 1 to 2 cent losses in early Wednesday trade. The corn market closed out the session with contracts posting fractional gains in the front months after spending most of the session in the red. Preliminary open interest was up 11,911 contracts on Tuesday. The national average Cash Corn price from cmdtyView was steady at $4.28 1/2.Â
Census data for November exports was released on Tuesday, showing 4.704 MMT (185.2 mbu) of corn shipped during the month, a 6-year high. That was also 16.22% above last month and took the first quarter total to 513 mbu. Distillers exports during November were a 3-year high at 946,804 MT. November shipments of ethanol totaled 187.6 million gallons, which was a record for the month.Â
Three separate South Korean importers purchased a combined 337,000 MT of corn overnight, though origins are still to be released.
Mar 25 Corn  closed at $4.58, up 1/4 cent, currently down 2 cents
Nearby Cash  was $4.28 1/2, unch
May 25 Corn  closed at $4.65 3/4, up 1/2 cent, currently down 1 3/4 cents
Jul 25 Corn  closed at $4.68 1/4, up 1/4 cent, currently down 1 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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