Midday corn prices are trading 3 to 4 1/2 cents in the red for old crop. New crop markets are down 7 to 7 1/4 cents so far, retreating from the fresh LOC highs earlier in the session.
IHS Markit sees 22 corn planted area at 91.489m acres. That is down from their prior estimate of 91.578m acres and compares to 93.357 for 21/22. Most of the shift went to wheat, with a moderate bean bump yr/yr.Â
USDA’s weekly data showed 1.402 MMT of corn was sold during the week that ended 1/20. That was above estimates, and included a previously announced sale of 247.8k MT to unknown. Japan was the week’s top buyer with 563.7k MT booked, including 219.7k MT from previously unknown sales. The weekly report showed a marketing year high for corn exports of 1.437 MMT. Japan was the top destination for the exported corn.Â
For sorghum, the FAS data showed 328k MT were booked including an announced sale of 126k MT to unknown. China and unknown destinations were the exclusive milo buyers from the week.Â
Mar 22 Corn  is at $6.23 1/2, down 3 1/2 cents,
Nearby Cash  is at $6.10 5/8, down 3 1/2 cents,
May 22 Corn  is at $6.21 1/4, down 3 3/4 cents,
Dec 22 Corn  is at $5.66, down 6 3/4 cents,
New Crop Cash  is at $5.49 1/1, down 7 1/8 cents,
/Semiconductor%20by%20Gorodenkoff%20via%20Shutterstock.jpg)
/An%20image%20of%20a%20Tesla%20humanoid%20robot%20in%20front%20of%20the%20company%20logo%20Around%20the%20World%20Photos%20via%20Shutterstock.jpg)
