Corn futures are reverting lower from the Wednesday gains, with contracts down fractionally in the new crop contracts to 2 cents in the nearbys at midday. The CmdtyView national average Cash Corn price is up 2 cents at $4.12 3/4.
Export Sales data from this morning showed 1.4 MMT of old crop corn business, which fell in the middle of trade estimates of 0.8-1.8 MMT. That was a 6-week high and but was 10.3% below the same week last year. New crop sales were tallied at 56,460 MT, which was within trade ideas of 0-150,000 MT.
May 26 Corn is at $4.49 1/4, down 2 cents,
Nearby Cash is at $4.12 3/4, down 2 cents,
Jul 26 Corn is at $4.58 1/2, down 2 cents,
Dec 26 Corn is at $4.77 3/4, down 1/4 cent,
New Crop Cash is at $4.35 3/4, down 3/4 cent,
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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