Corn futures are trading with fractional to 2 cent losses in the front months on Thursday. The CmdtyView national average Cash Corn price is down 1 3/4 cents to $4.23.
Export Sales data from this morning tallied corn sales at 1.22 MMT, which was on the higher side of trade ideas of between 0.7 and 1.5 MMT in old crop corn bookings during the week of 3/19. That was back up from last week and 17.1% above the same week last year. New crop sales exceeded the estimated range of 0 to 100,000 MT at 135,000 MT.
Ahead of the USDA March Intentions report next week, traders are looking for 94.37 million acres of corn to be reported by NASS. That would be a 4.4 million decline from last year if realized.
May 26 Corn is at $4.65 1/2, down 1 3/4 cents,
Nearby Cash is at $4.23, down 1 3/4 cents,
Jul 26 Corn is at $4.76 1/2, down 1 1/4 cents,
Dec 26 Corn is at $4.93, down 1/4 cent,
New Crop Cash is at $4.50 1/4, down 3/4 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.
