Corn futures are trading with fractional to 2 cent losses at midday. The CmdtyView national average Cash Corn price is 1 to 1 ¼ cents at $4.03 1/4.
USDA reported a private export sale of 126,640 MT of corn to unknown destinations this morning.
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Export Sales data from Thursday morning showed 71.387 MMT of corn export commitments, 30% above a year ago. That is 85% of USDA’s estimate and behind the 89% average. Shipments are now 48.96 MMT, a 34% increase from the same period last year. That is 58% of the USDA forecast and 5 points ahead of the average shipping pace.
The USDA WASDE update showed the US corn ending stocks projection left at 2.127 bbu as the trade had suspected. The only major change was via the average cash price, up a nickel to $4.15. World ending stocks were raised by 2.06 MMT to 294.81 MMT, mainly due to a hike in India, South Africa, and Brazil.
May 26 Corn is at $4.42 3/4, down 1 1/4 cents,
Nearby Cash is at $4.03 1/4, down 1 1/4 cents,
Jul 26 Corn is at $4.52 3/4, down 2 1/4 cents,
Dec 26 Corn is at $4.73 1/2, down 3/4 cent,
New Crop Cash is at $4.29 1/4, 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.
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