Corn futures posted 7 to 8 cent losses on Monday, after seeing strength around last week holiday on thin trade. The CmdtyView national average Cash Corn price was down 6 ¾ cents at $3.99 ¾.
Export Inspections data showed corn shipments at 1.301 MMT (51.2 mbu) shipped in the week that ended on Christmas day. That was a drop of 25.53% from the week prior, which is normal due to the holiday, but and up 43.37% from same week last year. Mexico was the top destination of 400,140 MT, with 221,240 MT to Colombia and 219,137 MT to Japan. Marketing year shipments have totaled 25.57 MMT (1.006 bbu), a 66.17% hike yr/yr and the first time on record shipping more than 1 bbu before year end (starting September 1).
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.
EIA data released Monday afternoon showed ethanol production slipping 36,000 barrels to 1.095 million barrels per day in week ending 12/19. Ethanol stocks were up 175,000 barrels on that week to 22.528 million barrels. Exports were up 28,000 bpd to 219,000 bpd, with refiner inputs of ethanol up 6,000 bpd to 912,000 bpd.
Mar 26 Corn closed at $4.42 1/4, down 7 3/4 cents,
Nearby Cash was $3.99 3/4, down 6 3/4 cents,
May 26 Corn closed at $4.50 3/4, down 7 1/2 cents,
Jul 26 Corn closed at $4.57, down 7 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
- Wheat Prices Are Headed for Their Longest Rally Since April. How You Should Play Futures Here.
- Can ‘King Corn’ Pull Soybeans, Wheat Out of Their Price Slumps?
- How Much Higher Will Corn Prices Climb?
- Grain, Cotton Futures Markets Look Heavy. What Could Give Them a Lift This Week?
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
