Corn futures are down 3 cents at midday, with Dec up ¼ ahead of expiration. There were another 107 deliveries issued against December corn futures overnight. The national average Cash Corn price from cmdtyView is down 3 cents at $4.12 3/4.
Following the release of the weekly Export Sales report, accumulated corn shipments are now 12.567 MMT. That is up 31% from last year and 20% of USDA’s new export projection, ahead of the 17% average pace. If you through in the unshipped sales, commitments are 35.138 MMT, 29% above last year. That is also 56% of the USDA number, with the average pace at 53%.
China’s national Statistics Bureau estimates the country’s corn crop at 294.9 MMT, a 6.1 MMT increase from last year.
Dec 24 Corn is at $4.32, up 1/4 cent,
Nearby Cash is at $4.12 3/4, down 3 cents,
Mar 25 Corn is at $4.40 1/2, down 3 cents,
May 25 Corn is at $4.48, down 3 cents,
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