Corn is buying and selling with 1 to three cent positive aspects early on Monday. Spillover help from the wheat market helps. The corn market was beneath strain on Friday as contracts had been 2 to 4 cents within the crimson. Friday’s preliminary open curiosity was up 5,080 contracts. July closed the week, giving all of the earlier positive aspects again, down 15 ½ cents, as December misplaced 12 ¼ cents. The entrance month CmdtyView nationwide common Money Corn worth was down 1 1/2 cents at $4.20 3/4.
Export Gross sales knowledge from Friday confirmed 916,712 MT in 2024/25 enterprise within the week of Could 22. That was a 7-week low however nonetheless 13.2% above final yr. Japan was the biggest purchaser of 214,400 MT, with Mexico in for 201,500 MT and 157,900 MT sol to Colombia. New crop gross sales had been 31,000 MT.
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Friday afternoon’s Dedication of Merchants report from CFTC confirmed the managed cash internet quick place in corn futures and choices backing off by 2,450 contracts to 100,760 contracts as of Could 27th. The industrial internet quick place was lower by 22,231 contracts to 150,061 contracts as of Tuesday.
Brazil’s corn crop estimate from Safras & Mercado was raised by 3.89 MMT to 139.03 MMT on a 3.82 MMT improve to their second crop quantity. USDA is at 130 MMT. AgRural launched up to date estimates this morning, elevating their corn projection by 3.7 MMT to 128.5 MMT. Additionally they estimated the second crop corn at 1.3% planted within the center-south area.
Jul 25 Corn closed at $4.44, down 3 cents, at the moment up 2 3/4 cents
Close by Money was $4.20 3/4, down 1 1/2 cents,
Sep 25 Corn closed at $4.23 1/4, down 4 cents, at the moment up 1 1/2 cents
Dec 25 Corn closed at $4.38 1/2, down 2 3/4 cents, at the moment up 1 3/4 cents
New Crop Money was $3.95 7/8, down 4 1/2 cents,
On the date of publication,
Austin Schroeder
didn’t have (both straight or not directly) positions in any of the securities talked about on this article. All info and knowledge on this article is solely for informational functions. For extra info please view the Barchart Disclosure Coverage
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The views and opinions expressed herein are the views and opinions of the writer and don’t essentially replicate these of Nasdaq, Inc.
