Corn futures closed the Thursday session with contracts fractionally to 4 cents higher across the board. March expires on Friday. The CmdtyView national average Cash Corn price was up 2 1/4 cents to $4.19 ¾. Crude oil was up another $9.15 on Thursday to add to some spillover support.
Export Sales data from this morning showed 1.53 MMT of old crop corn sold in the week ending on March 5. That was down from last week, but 58.2% larger than the same week last year. Japan was the top buyer of 670,000 MT, with 367,600 MT sold to Mexico and 209,100 MT to South Korea. New crop sales were just 500 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 closed at $4.48 1/4, up 4 cents,
Nearby Cash was $4.19 3/4, up 2 1/4 cents,
May 26 Corn closed at $4.62 1/2, up 2 1/4 cents,
Jul 26 Corn closed at $4.74, up 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.
More news from Barchart
