Corn Closes UNCH on Tuesday
Front month corn futures were unchanged at the closing bell after a 7c range spent on both sides.
CONAB trimmed their production for Brazilian corn output by ~1 MMT to 112.75 MMT.
Texas Crop Progress data showed corn planting progressed 6% points to 20% finished. That is 2 ppts behind the average and down 7% points from last year’s pace. Milo planting progressed 9% points to 18% finished – matching the 5-yr average.
The weekly USDA Export Inspections data showed 1.122 MMT of corn was shipped during the week that ended 3/7. Total shipments were reported at 21.81 MMT, compared to 16.36 MMT at the same time last year.
May 24 Corn closed at $4.41 3/4, unch,
Nearby Cash was $4.15 1/8, up 1/2 cent,
Jul 24 Corn closed at $4.53 3/4, unch,
Dec 24 Corn closed at $4.72 3/4, unch,
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.
