Corn Holding Steady on Tuesday
Corn futures are showing slightly mixed trade on Tuesday, within a penny of unchanged. The CmdtyView national average Cash Corn price is up 1/4 cent to $4.05.
USDA reported a private export sale of 196,000 MT of corn to unknown destinations this morning.
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USDA’s Grain Crushing report from NASS showed a total of just 460.95 million bushels of corn used for ethanol production in January, shy of estimates. That was a decline of 1.49% from a year ago and down 4.5% from December’s revised (~5 mbu lower) total.
A couple separate tenders from South Korean importers saw a total of 133,000 MT purchased overnight.
Mar 26 Corn closed at $4.32 1/4, down 1 cent,
Nearby Cash was $4.05, up 1/4 cent,
May 26 Corn closed at $4.46, up 1/4 cent,
Jul 26 Corn closed at $4.55, up 3/4 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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