Afternoon strength limited the Turnaround Tuesday losses for old crop to 3 1/2 cents. New crop futures ended the Tuesday session fractionally to 1 1/4 cents higher after trading red through midday.
The weekly Export Inspections data showed the corn’s accumulated export program reached 18.597 MMT (732.15 mbu) through 2/3. The official Census numbers had the MY total at 15.986 MMT (628.9 mbu) through December, with 196.4 mbu shipped in Dec ’21. That was the most for a December export since 2007/08.
December Milo shipments were recorded at 748,074 MT from the monthly Census report. Census also reported 933,882 MT of DDGS were shipped in December, which was a 2-month low but a 4-yr high for the month. Ethanol shipments were reported at 117.93m gallons. That left 2021’s yearly total ethanol export at 1.24 billion gallons, 68.07m below 2020’s program.
Turkey booked 275k MT of optional origin corn from their international tender. Taiwan also bought 65k MT of optional origin corn. South Korea’s NOFI is on the market for 138k MT of feed corn.
Mar 22 Corn closed at $6.32 1/4, down 3 cents,
Nearby Cash was $6.17, down 3 1/8 cents,
May 22 Corn closed at $6.34, down 3 1/4 cents,
Dec 22 Corn closed at $5.82, up 1 cent,
New Crop Cash was $5.66 3/8, up 1/2 cent,
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