The corn market is trading on either side of unchanged at midday, with contracts up 1 ½ to fractionally lower. There were another 111 deliveries issued against December corn futures, all stopped by an R.J.O’Brien customer. The national average Cash Corn price from cmdtyView is down 3 ½ cents at $4.04.
The weekly Export Inspections report from FGIS showed 935,859 MT (36.54 mbu) of corn shipped in the week that ended on November 28. That was 20.45% below the same week last year and 7.24% below last week. Columbia was the top destination of 244,540 MT, with shipments to Mexico limited to 200,201 MT. Marketing year shipments have totaled 11.07 MMT (435.8 mbu), which is 30.73% above last year and the largest for the current week in 6 years.
Brazil’s first corn crop is estimated at 94% planted in the Center-South region as of Thursday.
Dec 24 Corn is at $4.24 1/2, up 1 1/2 cents,
Nearby Cash is at $4.04, down 3 1/2 cents,
Mar 25 Corn is at $4.32 3/4, down 1/4 cent,
May 25 Corn is at $4.39 1/4, down 1/2 cent,
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
