Corn Futures Fractionally Weaker at Midday
The corn market is now trading fractionally weaker, after a back and forth session within a 7 ½ cent trading range.
USDA reported a private export sale of 1.661 MMT of corn to Mexico. That was split between 1.05 MMT for 23/24 and 611k MT for 24/25 delivery.
USDA’s weekly inspections data had 660.8k MT (26 mbu) of corn shipments for the week that ended 9/21. That was near last week’s volume and was up 20% from the same week last year. Mexico was the top destination with 360k MT, followed by China with 140k MT. The report had accumulated shipments at 1.96 MMT (77.3 mbu) through 9/21, which is 16% ahead of last year’s pace.
Dec 23 Corn is at $4.78, up 3/4 cent,
Nearby Cash is at $4.51 5/8, up 7/8 cent,
Mar 24 Corn is at $4.92 3/4, up 1/2 cent,
May 24 Corn is at $5.01 1/4, up 1/4 cent,
On the date of publication, Alan Brugler 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.
