Home Markets News Weather

Corn Lower on Thursday

« Go Back

Thursday trading in the corn futures market has prices dropping 1 1/2 to 3 1/4 cents at midday. Export news was bull friendly, but it could be a little “buy the rumor sell the fact” going on today. USDA’s Export Sales report showed 71.424 mbu of corn was booked in the week ending 03/19. That was just above pre-report expectations, and 756,000 MT of the total to China was known from USDA’s reporting system. The week’s sales were a MY high. An additional 3.265 mbu of new crop was also sold on the same week, which was on the high end of pre-report expectations. Total corn bookings were 91.6% above the same week last year. Corn shipments from the week ending 03/19 were 33.31 mbu, which was 11.8% below the same week last year. Accumulated corn exports are at 671.154 mbu. Traders (Bloomberg survey) estimate the USDA’s March 31st planting intentions report will show 94.1 million acres of corn. If realized that would be 5% higher than 2019, with fewer assumed Prevented Planting acres. The Average March corn stocks estimate is 8.134 bbu, last year was 8.613.

May 20 Corn is at $3.45 1/4, down 3 1/4 cents,

Jul 20 Corn is at $3.51 1/4, down 2 1/4 cents,

Sep 20 Corn is at $3.56 3/4, down 1 1/2 cents,

Dec 20 Corn is at $3.64 3/4, down 2 1/2 cents,

--- provided by Brugler Marketing & Management

« Go Back

Real-time Login
     Get Real-time Data
Edit Preferences      Refresh:   On   Off