Corn futures posted higher Thursday trade, with contracts up fractionally to 2 ½ cents in the nearby contracts. December futures expire on Friday. The CmdtyView national average Cash Corn price was up 1 1/2 cents at $4.01 1/2.
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.
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 closed at $4.35 1/4, up 1/2 cent,
Nearby Cash was $4.01 1/2, up 2 1/2 cents,
Mar 26 Corn closed at $4.46 1/2, up 2 1/4 cents,
May 26 Corn closed at $4.54 1/4, up 2 1/2 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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