Corn price action is fractionally mixed so far on Wednesday morning, holding near unchanged. Futures came back to close mixed on Tuesday, with front months March up ¼ cent and other contracts down 1 to 2 cents. March continues to liquidate ahead of Friday’s first notice day, with open interest down 59,413 contracts. OI across the rest was up 22,347 contracts. The CmdtyView national averageCash Corn price is down a penny to $3.93 1/2.
With just 3 days left for price discovery for the spring base price for Crop Insurance, December corn has averaged $4.60 this month. That would be down a dime from last year.
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EIA data will be released this morning, with some analysts looking for ethanol production to be steady to slightly higher than the week prior in the week that ended on 2/20.
Brazil’s ANEC estimates the country’s February export total for corn at 1.13 MMT, steady with the 1.12 MMT estimated last week.
Taiwan purchased a total of 65,000 MT of corn in a tender, with the US the expected origin.
Mar 26 Corn closed at $4.27 3/4, up 1/4 cent, currently down 1/4 cent
Nearby Cash was $3.95 1/1, up 1/2 cent,
May 26 Corn closed at $4.38 1/2, down 1 3/4 cents, currently up 1/2 cent
Jul 26 Corn closed at $4.47 1/2, down 1 1/4 cents, currently up 1/4 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.
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