Corn Posting Mixed Trade on Friday
The corn market is trading with contracts mixed, as nearbys up fractionally to 1 ½ cents higher and down 1 ½ in new crop December as the market squares up ahead of Monday’s reports. The CmdtyView national average Cash Corn price was down 1 ½ cents on the day at $4.18 1/2.
Export Sales data has total export commitments at 53.06 MMT as of March 20, which is 24% above the same period last year. That is 85% of the USDA export projection, now behind the 86% average pace in this specific week.
Grain Stocks data will be out on Monday, with the trade looking for 8.153 bbu of corn on hand as of March 1 according to a Bloomberg survey. Corn acreage is estimated at 94.4 MMT ahead of the Prospective Plantings report, with a range of 92.5 to 96.6 million acres.
South Korean importers purchased a total of 198,000 MT of corn in private deals on Friday.
May 25 Corn is at $4.51 1/4, up 1 1/4 cents,
Nearby Cash is at $4.18 1/2, up 1 1/2 cents,
Jul 25 Corn is at $4.58 1/4, up 1/4 cent,
Dec 25 Corn is at $4.42 1/4, down 1 1/2 cents,
New Crop Cash is at $4.06 3/4, down 1 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.