Corn price action is up 1 to 2 cents so far on Friday morning. Futures closed the Thursday session with bulls giving a late push, as contracts were fractionally to 2 ¼ cents higher. May was the lonely holdout, down ¼ cent. Open interest was up 6,091 contracts across the board, with May down 10,212 contracts. The CmdtyView national average Cash Corn price was down 1/4 cent to $4.24 1/2.
Export Sales data from Thursday tallied old crop corn bookings during the week of 3/19 at 1.22 MMT. That was back up from last week and 17.1% above the same week last year. Mexico was the top buyer of 428,600 MT, with 319,400 MT sold to Colombia, and 97,200 MT to the Dominican Republic. New crop sales were listed at 135,000 MT, all to Japan.
Ahead of the USDA March Intentions report next week, traders are looking for 94.37 million acres of corn to be reported by NASS. That would be a 4.4 million decline from last year if realized.
May 26 Corn closed at $4.67, down 1/4 cent, currently up 2 cents
Nearby Cash was $4.24 1/2, down 1/4 cent,
Jul 26 Corn closed at $4.78, up 1/4 cent, currently up 1 3/4 cents
Dec 26 Corn closed at $4.94 1/2, up 1 1/4 cents, currently up 1 1/4 cents
New Crop Cash was $4.52 1/1, up 1 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.
