Corn Gives into Weakness on Wednesday
Corn futures posted weaker trade heading into Wednesday, with contracts fractionally to 2 cents lower on the session. The CmdtyView national average Cash Corn price was down 1 1/2 cents at $3.84 1/2.
USDA reported a couple private export sales of 150,000 MT of corn to Colombia and 195,000 MT to unknown destinations this morning.
Weekly EIA data will be pushed back to Thursday morning due to the Monday holiday, with most looking for ethanol production to pull back from last week’s surge to a new all time record.
A Taiwan importer purchased a total of 65,000 MT of US con in a tender overnight.
Mar 26 Corn closed at $4.21 3/4, down 2 cents,
Nearby Cash was $3.84 1/2, down 1 1/2 cents,
May 26 Corn closed at $4.29 3/4, down 1 1/2 cents,
Jul 26 Corn closed at $4.36 1/4, down 1 1/2 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.
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