Corn futures are trading with gains of 5 to 6 cents in the front months on Friday. First notice day showed just 9 deliveries overnight all issued by the Bunge house account. The CmdtyView national average Cash Corn price is up 6 1/4 cents to $4.07 3/4. The spring base Crop Insurance price will be set by the close today, as the average December corn close has been $4.61, down 9 cents from last year.
USDA reported a private export sale of 257,000 MT of corn sold to unknown destinations this morning.
Export Sales data as of 2/19 showed corn commitments at 62.96 MMT, which is up 29% from the same period last year. That is 75% of the USDA export projected and now slightly behind the 77% average sales pace. Actual shipments are 46% of that estimate and 8 points ahead of the 38% average shipping pace.
A couple separate South Korean importers purchased a total of 201,000 MT of corn in a tender overnight.
Mar 26 Corn is at $4.39, up 5 3/4 cents,
Nearby Cash is at $4.07 3/4, up 6 1/4 cents,
May 26 Corn is at $4.49 1/2, up 6 cents,
Jul 26 Corn is at $4.56 3/4, up 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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