Corn futures are trading with 2 to 3 cent losses across most contracts on Thursday. Outside pressure is a factors as the US dollar index is hitting a 2 month high and crude oil is down $1.01/barrel. The CmdtyView national average Cash Corn price is down up 2 1/2 cents at $3.77 1/4. The average close for December futures so far this month has been $4.20.
Export Sales data will not be reported on Thursday due to the government shutdown, though traders surveyed by Reuters were looking for 1.2-2 MMT of corn sold in the week of 10/2. ANEC estimates the Brazilian corn exports at 6 MMT for October, which would be an increase over the 5.67 MMT in October 2024.
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China’s CASDE report from Thursday morning left the production number alone at 296.16 MMT, with the import number trimmed by 1 MMT to 6 MMT.
Dec 25 Corn is at $4.19 3/4, down 2 1/4 cents,
Nearby Cash is at $3.77 1/4, down 2 1/2 cents,
Mar 26 Corn is at $4.34 3/4, down 3 cents,
May 26 Corn is at $4.43 3/4, down 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.
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