Wednesday corn futures have traded in a wide range through midday, with an 8 cent range for March. At midday old crop futures are fractionally mixed, while new crop is up by as much as 3 1/2 cents.
BAGE maintained their 51 MMT forecast for Argentina’s 21/22 corn output, though cited a potential further downward revision as dryness is expected to persist. The European Commission reported MYTD corn imports reached 10.6 MMT through 2/20. EU’s corn imports are down 200k MT from last season’s pace. Taiwan is on the market for optional origin corn, having issued a 65k MT tender for old crop.
Mar 22 Corn is at $6.75 1/4, up 1/2 cent,
Nearby Cash is at $6.59 1/2, up 3/8 cent,
May 22 Corn is at $6.73, up 1/2 cent,
Dec 22 Corn is at $6.09, up 3 1/4 cents,
New Crop Cash is at $5.93 1/8, up 2 1/2 cents,
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