The corn market is showing steady to fractionally lower trade so far on Tuesday. Corn started off the holiday shortened week with gains of 4 to 7 cents across most contracts. March rallied through $5, to close above the level for the first time since October 2023. The CmdtyView national average Cash Corn price was up 6 cents on Friday at $4.69 3/4.
The weekly Export Inspections report tallied 1.611 MMT (63.44 mbu) of corn exported during the week that ended on February 13. That was 53.15% larger than the same week last year and 18.91% above the week prior. Mexico was the largest destination of 671,925 MT, with 254,389 MT to Japan, 207,775 MT headed to Vietnam and 207,160 MT to South Korea. That brought the marketing year total to 24.73 MMT (973.5 mbu), which is 35.4% above the same week in 2024.
Brazil’s February corn exports are expected to total 1.28 MMT according to ANEC, down from their 1.3 MMT previous estimate. A Taiwan importer purchased 65,000 MT of corn in their tender overnight, likely from the US.
Mar 25 Corn closed at $5.02, up 5 3/4 cents, currently unch
Nearby Cash was $4.69 3/4, up 6 cents,
May 25 Corn closed at $5.15 3/4, up 7 cents, currently down 1/4 cent
Dec 25 Corn closed at $4.77 1/2, up 4 1/2 cents, currently down 3/4 cent
New Crop Cash was $4.46, up 4 3/4 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.More news from Barchart
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