Corn futures are showing gains of 1 to 3 ¾ cents so far on Friday. March options expire today. Spillover support from double digit gains in wheat is helping. The CmdtyView national average Cash Corn price is up 1 3/4 cent to $3.94 1/4. With just a little over a week left in the Crop Insurance price discovery, the average December corn close has been $4.60, down a dime from the same period last year.
Export Sales data continues to show strong export sales, with old crop corn sales at 1.47 MMT in the week of 2/12, in the middle of the 0.6 and 2.2 MMT estimates. That was down from last week, but still 1.1% above the same week last year. New crop sales were at 65,700 MT in that week.
A South Korean importer purchased a total of 132,000 MT in a tender overnight.
Mar 26 Corn is at $4.27 1/2, up 1 3/4 cents,
Nearby Cash is at $3.94 1/4, up 1 3/4 cents,
May 26 Corn is at $4.39 3/4, up 3 1/2 cents,
Jul 26 Corn is at $4.48 1/4, up 3 3/4 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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