After sharp losses out of the Thanksgiving holiday, corn prices continued their December recovery with front month futures ending the 12/2 session 3 to 6 1/4 cents in the black. New crop December closed just fractionally higher at $5.49/bu.
USDA data showed corn export sales from the week that ended 11/25 were 1.021 MMT. That was at the high end of expectations and included a 100k MT sale to Mexico that was previously announced. Mexico was the top buyer for the week. Compared to last week, corn bookings were down 29%, and were 25% off the same week last year. The weekly report showed 938,435 MT of corn was shipped during the week of 11/25, which was also 13% under the same week last year. Accumulated corn exports were 9.647 MMT, which remains 7% behind last season’s pace.
Dec 21 Corn closed at $5.77, up 5 cents,
Nearby Cash was $5.63, up 5 1/2 cents,
Mar 22 Corn closed at $5.76 3/4, up 5 1/4 cents,
May 22 Corn closed at $5.79 1/4, up 6 1/4 cents,
New Crop Cash was $5.26 5/8, up 1 1/4 cents,
/NVIDIA%20Corp%20logo%20on%20phone-by%20Evolf%20via%20Shutterstock.jpg)
/Green%20hydrogen%20by%20Scharfsinn%20via%20Shutterstock.jpg)
/Semiconductor%20chip%20by%20Mykola%20Pokhodzhay%20via%20iStock.jpg)