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Corn is sticking close to unch so far on Tuesday morning, with contracts fractionally mixed. The corn market posted gains anywhere from fractional to 3 cents higher on Monday to start the last full trading week of the year. The national average Cash Corn price from cmdtyView was up 3 cents at $4.16.
The weekly Export Inspections report from the USDA showed 1.13 MMT (44.48 mbu) in shipments during the week that ended on December 12. That was a 17.7% increase from the same week last year and 6.79% above the previous week. The largest destination was Mexico at 377,397 MT, with 206,019 MT to Japan, 136,897 MT to Spain, and 124,780 MT shipped to Columbia. That took the marketing year shipments to 13.3 MMT (523.63 mbu), up 31% from last year.
AgRural’s estimate for the Brazilian corn crop is 121.7 MMT, which is well shy of the 127 from USDA.
Mar 25 Corn closed at $4.45, up 3 cents, currently up 1/4 cents
Nearby Cash was $4.16, up 3 cents,
May 25 Corn closed at $4.51 3/4, up 2 1/2 cents, currently up 1/4 cents
Jul 25 Corn closed at $4.55, up 2 cents, currently down 1/4 cents
On the date of publication,
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
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