Corn futures are Starting off Wednesday with gains of 3 to 7 cents across most contracts. The corn market bounced back on Tuesday, with contracts closing 2 to 4 cents higher across most nearbys. The national average Cash Corn price from cmdtyView is up 3 cents at $4.50 3/4.
CONAB estimates the second corn crop in Brazil at 1.4% complete, lagging the 10.3% pace from last year. ANEC estimates the Brazilian corn export total in January at 3.35 MMT, a reduction of 180,000 MT from their previous estimate. That would be down 25.17% from December and 47.46% below January 2024.
Argentina’s corn crop was trimmed by 1 MMT to 47 MMT by Dr Michael Cordonnier in his latest estimate.
Mar 25 Corn closed at $4.85 1/4, up 3 1/4 cents, currently up 6 1/2 cents
Nearby Cash was $4.50 3/4, up 3 cents,
May 25 Corn closed at $4.96, up 3 3/4 cents, currently up 6 cents
Dec 25 Corn closed at $4.61, up 2 3/4 cents, currently up 3 1/4 cents
New Crop Cash was $4.31, up 2 1/2 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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