Corn prices bounced back from midday weakness to close the first trade day of the week with 2 to 4 3/4 cent gains in the front months. USDA announced a private corn sale this morning, as unknown destinations bought 150k MT of old crop corn.
USDA’s weekly Export Inspections report showed corn shipments were 1.115 MMT during the week that ended 1/20. That was down from 1.237 MMT last week and below the 1.4 MMT shipped during the same week last year. China was the week’s top destination with 347,449 MT, followed by Mexico with 305k MT. The weekly data had MYTD corn exports at 16.44 MMT, compared to 18.9 MMT at the same point last season.
Mar 22 Corn closed at $6.21, up 4 3/4 cents,
Nearby Cash was $6.07 1/8, up 4 3/4 cents,
May 22 Corn closed at $6.17 1/2, up 3 1/2 cents,
Dec 22 Corn closed at $5.67 1/2, up 2 1/4 cents,
New Crop Cash was $5.51 3/4, up 2 cents,
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