Corn futures are trading with 6 to 7 cent losses so far on Monday, after seeing strength around the holiday on thin trade. The CmdtyView national average Cash Corn price is down 6 ¾ cents at $4.00.
Export Inspections data showed corn shipments at 1.301 MMT (51.2 mbu) shipped in the week that ended on Christmas day. That was a drop of 25.53% from the week prior, which is normal due to the holiday, but and up 43.37% from same week last year. Mexico was the top destination of 400,140 MT, with 221,240 MT to Colombia and 219,137 MT to Japan. Marketing year shipments have totaled 25.57 MMT (1.006 bbu), a 66.17% hike yr/yr and the first time on record shipping more than 1 bbu before year end (starting September 1).
EIA data continues to be delayed, with a release expected today for the week of 12/19.
Mar 26 Corn is at $4.43 1/4, down 6 3/4 cents,
Nearby Cash is at $3.99 1/1, down 6 3/4 cents,
May 26 Corn is at $4.51 3/4, down 6 1/2 cents,
Jul 26 Corn is at $4.58, down 6 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.
