Corn futures are trading with contracts steady to fractionally higher on Thursday. The CmdtyView national average Cash Corn price is up 3/4 cent to $4.26 1/2.
USDA’s Export Sales data showed 2.125 MMT in old crop corn business, which exceeded the 0.8-1.6 MMT estimates for the week of 5/14. That was a 17-week high and 78.5% above the same week last year. New crop business was tallied at 281,430 MT, on the higher end of the 150,000 to 300,000 MT expectations. That was the third largest total for the marketing year.
A couple South Korean importers purchased corn overnight, with 65,000 MT via tender and 66,000 MT via a private deal.
Jul 26 Corn is at $4.66 1/2, up 3/4 cent,
Nearby Cash is at $4.26 1/2, up 3/4 cent,
Sep 26 Corn is at $4.73, up 1/2 cent,
Dec 26 Corn is at $4.89 1/4, unch,
New Crop Cash is at $4.42 1/4, up 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.
