Corn futures are showing steady trade on Friday, with some contracts fractionally lower at midday. The CmdtyView national average Cash Corn price is steady at $4.07 1/2.
After Thursday’s Export Sales report, US corn export commitments are now 50.895 MMT as of January 1, a 30% increase from last year. That is also 63% of the current USDA export projection for the marketing year and ahead of the 61% average sales pace. Actual shipments are 27.414 MMT, which is 34% of USDA’s forecast and ahead of the 24% normal shipping pace.
A couple South Korean importers purchased a total of 339,000 MT of corn in tenders overnight.
USDA’s WASDE report will be out on Monday, with a Bloomberg survey showing analysts looking for stocks to be tallied at 1.985 bbu, a 44 mbu reduction if realized.
Mar 26 Corn is at $4.46, unch,
Nearby Cash is at $4.07 1/2, down 0 cent,
May 26 Corn is at $4.53 3/4, down 1/4 cent,
Jul 26 Corn is at $4.60 1/4, down 1/4 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.
