Corn Holds Higher on Tuesday
Corn futures posted gains across most contracts on Tuesday with contracts closing up 1 to 2 cents. The CmdtyView national average Cash Corn price was up 2 cents at $3.98 1/4.
After a near month and a half hiatus, USDA released their Crop Progress report showing 91% of the corn crop harvested as of 11/16, behind the 94% average harvest pace over the last 5 years.
A South Korean importer purchased a total of 65,000 MT of corn in a tender on Tuesday, likely US origin.
CFTC data for the week of September 30 will be released on Wednesday afternoon, with the full Commitment of Traders dataset not expected to be fully updated until January 23.
EIA data will be released on Wednesday morning, with most looking for ethanol production to be firm with last week’s total.
Dec 25 Corn closed at $4.36 3/4, up 2 cents,
Nearby Cash was $3.98 1/4, up 2 cents,
Mar 26 Corn closed at $4.49 1/2, up 1 1/2 cents,
May 26 Corn closed at $4.56 1/2, up 1 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.
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