Corn Holding Steady at Midday
Corn futures are steady to fractionally higher so far on Wednesday. The CmdtyView national average Cash Corn price is steady at $3.93.
USDA's armchair estimate for the US corn balance sheet will be released at Thursday’s Ag Outlook Forum. Ahead of the release, a Bloomberg survey of analysts is calling for corn acreage to drop 3.8 million acres from last year to 95 million acres. Corn production is estimated to total 15.936 bbu, which would be a drop of 1.085 bbu from last year's total.
Brazilian corn exports for February are expected to total 1.12 MMT according to ANEC, a slight increase from their estimate last week.
Mar 26 Corn is at $4.26 1/4, unch,
Nearby Cash is at $3.93, down 0 cent,
May 26 Corn is at $4.36, up 1/4 cent,
Jul 26 Corn is at $4.44 1/4, unch,
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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