The corn market is bouncing back from losses on Monday, with fractional to 3 cent gains. Corn futures rounded out the Monday session with contracts down 2 to 4 ½ cents at the close, pulling off midday lows. The national average Cash Corn price from cmdtyView was down 4 1/2 cents at $4.47 3/4.
Export Inspections data from USDA tallied corn shipments at 1.247 MMT (49.09 mbu) in the week that ended on January 23. That was an increase of 34.61% from the same week last year but down 19.15% from the previous week. Of that total, 317,292 MT was headed to Japan, with 314,195 MY shipped to Mexico. Marketing year shipments have totaled 20.497 MMT (806.92 mbu).
CONAB estimates the second corn crop in Brazil at 1.4% complete, lagging the 10.3% pace from last year.
Mar 25 Corn closed at $4.82, down 4 1/2 cents, currently up 2 3/4 cents
Nearby Cash was $4.47 3/4, down 4 1/2 cents,
May 25 Corn closed at $4.92 1/4, down 4 1/4 cents, currently up 2 1/2 cents
Dec 25 Corn closed at $4.58 1/4, down 2 3/4 cents, currently up 3/4 cents
New Crop Cash was $4.28 1/2, down 3 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.