Corn Sticking Near Unchanged at Midday
The corn market showing fractionally mixed trade so far on Friday. December options expire today. The national average Cash Corn price from cmdtyView is down 1/2 cent at $4.03 1/4 per bu.
Spillover pressure from midday losses in wheat and the US dollar index hitting the highest prices since November 2022 is weighing on the market.
Export Sales data has accumulated corn shipments at 9.327 MMT, 31% above a year ago and 16% of the USDA export projection, vs. the 13% average pace for this early in the marketing year. Total commitments are 39% larger yr/yr at 31.396 MMT, which is 53% of USDA full year estimate, 7% above the normal pace.
Dec 24 Corn is at $4.26 1/2, down 1/4 cent,
Nearby Cash is at $4.03 1/4, down 1/2 cent,
Mar 25 Corn is at $4.36 1/4, unch,
May 25 Corn is at $4.43 1/2, up 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.