Corn price action is trading with 5 to 6 cent gains at midday on Friday. The CmdtyView national average Cash Corn price is up 6 cents at $3.89 1/2.
The markets will be off on Monday for the Martin Luther King Jr. Day holiday. They will open back up on Monday evening.
USDA reported a couple private export sales this morning of 298,000 MT of corn during to unknown destinations, with 120,000 MT for Japan.
USDA Export Sales data as of January 8 has 52.035 MMT of corn commitments (shipped and unshipped sales), which is 29% above the same week las year. That is 64% of USDA’s forecast and ahead of the 62% average sales pace. Meanwhile, FAS actual shipment data is 28.97 MMT, of 36% of USDA’s projection vs. a 26% average shipping pace.
A couple South Korean importers purchased 130,000 MT of corn in private purchase overnight.
Mar 26 Corn is at $4.26 1/4, up 6 cents,
Nearby Cash is at $3.89 1/2, up 6 cents,
May 26 Corn is at $4.33 1/4, up 5 1/2 cents,
Jul 26 Corn is at $4.39, up 5 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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