Corn price action is up 2 to 3 ½ cents in the front months on Wednesday. Futures posted fractional to penny losses in the nearbys on Tuesday, with other contracts fractionally to 1 ¾ cents higher. Preliminary open interest was down 1,533 contracts on Tuesday. The CmdtyView national average Cash Corn price was down 1 ¼ cents at $3.86.
Export Inspections data showed corn shipments at 1.484 MMT (58.4 mbu) shipped in the week that ended on January 15. That was down 1.35% from the week prior, and 3.81% below the same week last year. Mexico was the top destination of 401,809 MT, with 252,324 MT to Colombia and 243,588 MT to Japan. Marketing year shipments have totaled 29.92 MMT (1.178 bbu), which is up 55.46% yr/yr.
A Taiwan importer purchased a total of 65,000 MT of US con in a tender overnight.
ANEC estimates the Brazilian corn export total for January at 3.45 MMT, a 0.18 MMT increase from last week.
Mar 26 Corn closed at $4.23 3/4, down 1 cent, currently up 3 1/2 cents
Nearby Cash was $3.86, down 1 1/4 cents,
May 26 Corn closed at $4.31 1/4, down 3/4 cent, currently up 3 1/2 cents
Jul 26 Corn closed at $4.37 3/4, down 1/4 cent, currently up 3 1/4 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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