Corn price action is up 2 to 3 cents so far on Tuesday morning. Futures closed the Monday session with contracts down 1 ½ to 6 cents in most contracts at the close. Pressure was from a President Trump post ordering the Department of War to postpone some military strikes on Iran. Preliminary open interest was down 3,391 contracts on Monday, with the most in nearby May (-9,034) and December (-1,035) The CmdtyView national average Cash Corn price was down 6 cents to $4.17 3/4.
USDA reported a private export sale of 102,000 MT of corn sold to Mexico on Monday morning.
Export Inspections data showed corn at 1.7 MMT (66.9 mbu) shipped in the week that ended on March 19. That was up 1.79% from last week, and 9.83% above the same week last year. Mexico was the top destination of 483,855 MT, with 327,512 MT to Japan and 180,375 MT to Colombia. Marketing year shipments have totaled 44.58 MMT (1.755 bbu), which is up 37.8% yr/yr. China was the sole destination for 182,179 MT of sorghum.
May 26 Corn closed at $4.59 1/2, down 6 cents, currently up 2 3/4 cents
Nearby Cash was $4.17 3/4, down 6 cents,
Jul 26 Corn closed at $4.70 1/2, down 5 1/2 cents, currently up 2 1/2 cents
Dec 26 Corn closed at $4.86 1/2, down 4 1/4 cents, currently up 2 cents
New Crop Cash was $4.44 3/4, down 4 3/4 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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