Corn Closes Thursday Mixed
The corn market ended the Thursday session with contracts down 3 to 4 cents in the nearbys and up a penny in December. The nearby CmdtyView national average Cash Corn price was unch at $4.42 3/4
Export Sales data showed 1.014 MMT in the week of April 24, a 3-week low, but up 33.7% from the same week last year. Mexico was the largest buyer of 451,400 MT, with 166,200 MT to Colombia and Israel buying 130,700 MT. New crop bookings were tallied at 244,704 MT. That was the second largest total for the marketing year. Mexico purchased 184,700 MT, with 56,000 MT sold to Japan.
The monthly Grain Crushing Report from NASS showed 454.197 million bushel of corn used for ethanol production in March. That was up 7.7% from the February number but a 3,79% drop from last year. The marketing year corn used for ethanol is at 3.209 billion bushels up ~18 mbu vs. the same time last year.
The Buenos Aires Grain Exchange estimates the Argentina corn crop at 31% harvested, a slow 1% progression on the week.
May 25 Corn closed at $4.64 1/4, down 3 cents,
Nearby Cash was $4.42 3/4, up 0 cent,
Jul 25 Corn closed at $4.72 1/4, down 3 1/4 cents,
Dec 25 Corn closed at $4.47 1/4, up 1 cent,
New Crop Cash was $4.07 3/4, down 1/2 cent,
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.
