Corn futures are up 1 to 2 cents at Thursday’s midday. There were another 22 deliveries issued against December corn overnight. The CmdtyView national average Cash Corn price is up 1 3/42 cents at $4.01 3/4.
USDA reported a private export sale of 186,000 MT of corn to unknown destinations this morning. Export Sales data was updated again this morning, showing a 4-week high 2.38 MMT of corn sold in the week ending on 11/13. That exceeded the 0.8-2 MMT range of estimates and was 59.3% larger than the same week last year.
Delayed Census data showed September corn exports at a record 6.978 MMT (274.7 mbu). That was 9.09% larger than August and 60.93% larger than the same month last year. Distiller exports were 1.47% above last year at 1.059 MMT, with ethanol shipments at 148.4 million gallons during that month.
NASS released their backed up Grain Crushings report on Wednesday afternoon, showing September corn grind at 435.36 million bushels, down 2.66% from last year. October corn grind was also released, with 476.4 mbu of corn usage, up 2.76% vs. last year. In the first two months of the marketing year, corn used for ethanol was up 1 million bushel from last year.
A Taiwan importers purchased 65,000 MT of US corn in a tender overnight. CONAB released updated data this morning, showing Brazilian corn production at 138.88 MMT, up 0.04 MMT from their previous number.
Dec 25 Corn is at $4.36 3/4, up 2 cents,
Nearby Cash is at $4.01 3/4, up 1 3/4 cents,
Mar 26 Corn is at $4.46, up 1 3/4 cents,
May 26 Corn is at $4.53 1/2, up 1 3/4 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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