Corn futures are trading with losses of 5 to 6 ½ cents at midday on Monday. There were 36 deliveries against the expiring September contract on Friday, with the month’s total at 238. The CmdtyView national average Cash Corn price is down 6 cents at $3.80 1/2.
USDA reported a private export sale of 148,971 MT of corn to unknown destinations for the current marketing year this morning.
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Export Inspections data showed 1.512 MT (59.51 mbu) of corn shipped in the week that ended on September 11, which was an increase of 32.65% from the week prior and 65.71% larger than the same week last year. Mexico was the top destination of 462,805 MT, with 375,776 MT to Japan and 130,760 MT to Colombia. Marketing year shipments have totaled 2.161 MMT in the week and a half (85.09 mbu), 5.68% larger yr/yr.
CFTC data showed a total of 8,442 contracts added to the spec fund in corn futures and options net short as of September 9. That took their net short position to 99,929 contracts as of Tuesday.
Safras & Mercado estimates Brazil’s first corn crop in the south center region at 25.48 MT, up from 24.73 MMT last year. AgRural estimates that first corn crop at 17% planted.
Dec 25 Corn is at $4.23 3/4, down 6 1/4 cents,
Nearby Cash is at $3.80 1/2, down 6 cents,
Mar 26 Corn is at $4.41 3/4, down 5 1/2 cents,
May 26 Corn is at $4.51 1/2, down 5 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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