Corn Losses Limited Despite Spillover from Wheat
The corn bulls are trying to hold up the market at midday, with spillover pressure from wheat playing a role. Corn is down 1 to 3 cents at midday, with help from a couple large export bookings. The national average Cash Corn price from cmdtyView is down 1 1/4 cents at $4.02 1/4 per bu.
USDA reported private export sales of 401,357 MT of corn to Mexico this morning, with 290,820 MT sold to unknown destinations during the reporting period, all for 2024/25.
Crop Progress data, in their last update for corn on the year showed the crop at 95% harvested as of 11/10, well above the 84% average pace for this point in the year.
A couple different tender by South Korean importers saw purchases of between 133,000 and 138,000 MT overnight, with no origins listed.
Dec 24 Corn is at $4.27 1/4, down 1 1/4 cents,
Nearby Cash is at $4.02 1/4, down 1 1/4 cents,
Mar 25 Corn is at $4.37 3/4, down 2 1/2 cents,
May 25 Corn is at $4.44 3/4, down 2 1/2 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.