Corn Steady on Monday Morning Trade
Corn is trading with fractionally mixed trade so far on Monday. The corn market was under pressure in sympathy with the beans and other some outside pressure on Friday. Contracts closed down 4 to 5 ¼ cents, with December 6 cents lower last week. Friday’s preliminary open interest was up 22,267 contracts, suggesting net new selling. The CmdtyView national average Cash Corn price was down a nickel at $3.71 3/4.
The average close for December futures so far this month has been $4.19. The whole month average price is used to determine the harvest price for crop insurance.
Harvest may be slowed in the back half of the next 7 days, with some heavier totals expected in the ECB and lighter totals across the rest of the country.
The Buenos Aires Grain Exchange estimates the Argentina corn crop at 26% planted. AgRural estimates the Brazilian corn crop at 45% complete as of Thursday in the central south region.
Dec 25 Corn closed at $4.13, down 5 1/4 cents, currently up ¼ cent
Nearby Cash was $3.71 3/4, down 5 cents,
Mar 26 Corn closed at $4.29, down 5 cents, currently down ¼ cent
May 26 Corn closed at $4.38, down 4 3/4 cents, currently unch
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.