The corn market is showing some slight gains to kick off the Christmas week, with contracts up 1 to 2 cents at midday. The national average Cash Corn price from cmdtyView is up 1 1/2 cents at $4.18 1/2.
USDA reported a private export sale of 132,000 MT of corn to unknown destinations for 2024/25 shipment this morning.
The weekly Export Inspections report from this morning showed a total of 1.123 MMT (44.21 mbu) of corn shipped in the week that ended on December 19. That was down 8.51% from the same week last year and 1.66% below the previous week. Of that total, 319,352 MT was headed to Japan, with 265,876 MT on its way to Mexico. Marketing year to date shipments have totaled 14.436 MMT (568.3 mbu) so far since September 1, 26.84% above the same week last MY.
Commitment of Traders data showed the managed money spec funds in corn futures and options trimming 6,475 contracts from their net long position in the week that ended on December 17. They took that net long to 159,415 contracts by Tuesday. Commercials increased their net short by 10,590 contracts to 396,690 contracts.
Mar 25 Corn is at $4.47 3/4, up 1 1/2 cents,
Nearby Cash is at $4.18 1/2, up 1 1/2 cents,
May 25 Corn is at $4.53 1/2, up 1 3/4 cents,
Jul 25 Corn is at $4.55 3/4, up 1 1/4 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- Corn Demand in Focus: What The Cash Market May Be Trying To Say
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