Corn futures closed the Tuesday session with contracts down 1 to 2 cents in the front months. The CmdtyView national average Cash Corn price was down a 1 ½ cents at $3.90 3/4.
USDA reported a private export sale of 110,000 MT of corn to unknown destinations this morning. Another sale of 306,000 MT of sorghum was reported as sold to unknown.
EIA data will be released on Wednesday, with some looking for a pullback in ethanol output for the week ending last Friday.
ANEC estimates the January export total from Brazil at 3.39 MMT, down 0.06 MMT from last week. That would be shy of the 3.59 MMT from the same month last year if realized.
Mar 26 Corn closed at $4.26 1/2, down 1 3/4 cents,
Nearby Cash was $3.90 3/4, down 1 1/2 cents,
May 26 Corn closed at $4.34 3/4, down 1 1/4 cents,
Jul 26 Corn closed at $4.40 3/4, down 1 1/4 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.
