Corn Mixed at Midday
The corn market is holding steady on Monday, with front months up 1 to 1 ½ cents and new crop corn slipping back, down ¼ cent. The front month CmdtyView national average Cash Corn price is up 1 ¼ cents at $4.56 1/2.
Export Inspections data showed a total of 1.702 MMT (67.04 mbu) of corn shipped during the week of April 17. That was a drop of 6.95% from the previous week but up 2.49% from the same week last year and the largest for this week since 2018. Mexico was the largest destination of 490,398 MT, with 437,602 MT to Japan, and 206,613 MT to South Korea. Marketing year exports have totaled 39.22 MMT (1.544 bbu) since September 1, which is 28.97% above the same period last year.
Crop Progress data is expected to show 10-11% of the US corn crop planted by Sunday.
Friday’s CFTC data showed spec funds in corn futures and options adding back 70,997 contracts to their net long position as of April 15, taking their net long to just back to 124,573 contracts.
May 25 Corn is at $4.83 1/4, up 1 cent,
Nearby Cash is at $4.56 1/2, up 1 1/4 cents,
Jul 25 Corn is at $4.91 1/2, up 1 1/4 cents,
Dec 25 Corn is at $4.65 3/4, down 1/4 cent,
New Crop Cash is at $4.30, down 1/4 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.