Corn prices are up ¼ to 1 1/2 cents this morning. Futures closed the Friday session with 5 to 7 1/2 cent grain on Friday. The market was closed on Monday in observance of Labor Day.
Export sale commitments for old crop are 98% of the USDA forecast at 55.951 MT, with the average pace at 103% of that projection. FAS accumulated shipments are 52.949 MMT, or 93% of USDA’s export number, lagging the 98% average. Forward sales for new crop have jumped to 9.42 MMT, which is up 12.9% from the same period last year and in the middle of the past 10 years.
The weekly Commitment of Traders report indicated spec traders in the corn market trimming 15,988 contracts from their net short position in the week that ended on August 27, to 241,908 contracts by that Tuesday.
Sep 24 Corn closed at $3.78, up 6 1/4 cents, currently up 1 1/2 cents
Nearby Cash was $3.63 7/8, up 7 1/2 cents,
Dec 24 Corn closed at $4.01, up 5 cents, currently up 1/4 cents
Mar 25 Corn closed at $4.19, up 5 cents, currently up 1/4 cents
New Crop Cash was $3.65, up 10 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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