Corn futures have backed off the earlier morning strength at midday, as contracts are now just up fractionally to a penny.
The 7-day QPF from NOAA shows spotty rains over the next week, with some heavier totals nearing an inch in parts of eastern NE/SD and western IA over the coming days. Parts of IN and OH are also expected to see some totals near an inch.
Thursday’s Export Sales report took the full year export sale commitments to 54.71 MMT, which is 97% of the USDA recently updated export forecast. Normally, we’d be 102% of that number by now. Shipments from the report for the 2023/24 marketing year are 46.16 MMT, 82% of the projected total 7% below the normal pace.
Sep 24 Corn is at $3.91 1/2, up 1/4 cent,
Nearby Cash is at $3.85 1/2, up 1/2 cent,
Dec 24 Corn is at $4.06, up 1 cent,
Mar 25 Corn is at $4.19 3/4, up 1 cent,
New Crop Cash is at $3.69 1/2, up 3/4 cent,
On the date of publication, Alan Brugler 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.