Corn futures are trading with 3 to 4 cent gains at midday, as March is up 5 ¾ ahead of Friday’s expiration. The CmdtyView national averageCash Corn price is up 3 1/4 cents to $4.20 ¾. Crude oil is up another $7.90 on Thursday.
Export Sales data from this morning showed 1.53 MMT of corn sold in the week ending on March 5, in the middle of traders’ estimates for between 0.8-2.2 MMT in corn sales for old crop. That was down from last week, but 58.2% larger than the same week last year. New crop sales were just 500,000 MT.
Census data showed 6.61 MMT (260.1 mbu) of corn shipped in January, which was a record for the month. Distillers were the highest in 4 years for January at 1.01 MMT. Ethanol shipments were 212.07 million gallons a record.
Mar 26 Corn is at $4.50, up 5 3/4 cents,
Nearby Cash is at $4.20 3/4, up 3 1/4 cents,
May 26 Corn is at $4.63 3/4, up 3 1/2 cents,
Jul 26 Corn is at $4.75, up 3 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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