Corn price action is showing 2 to 3 cent gains across the front months at midday. The CmdtyView national average Cash Corn price was down 2 cents at $3.67 1/2.
USDA Export Sales data showed net reductions of just 17,797 MT in the week ending on August 21, an improvement from last week and within estimates of net reductions of 200,000 MT to 150,000 MT in sales. New crop business was on the higher side of the trade ideas of 1.2 to 2.6 MMT in that week at 2.089 MMT. That was down 26.9% from last week but still the third largest total for the marketing year.
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Canadian corn production is estimated to total 15.55 MMT according to Statistics Canada, which would be a 1.5% increase from last year.
Sep 25 Corn is at $3.84 1/2, up 2 cents,
Nearby Cash is at $3.67 1/2, up 2 cents,
Dec 25 Corn is at $4.09, up 3 cents,
Mar 26 Corn is at $4.26 1/4, up 3 cents,
New Crop Cash is at $3.65 1/1, up 3 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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
