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Corn futures posted losses of three to 4 cents throughout the entrance months on Friday, with December slipping again 2 cents this week. The CmdtyView nationwide common Money Corn value was down 3 3/4 cents at $3.78.
Friday afternoon’s Dedication of Merchants report indicated managed cash including again 14,624 contracts to their web quick place in corn futures and choice as of September 23. That took their web place to -94,675 contracts, primarily on lengthy liquidation. Commercials trimmed again there at web quick place by 10,692 contracts to 97,598 contracts, primarily by way of a rise within the variety of longs, implying finish person hedging.
Export Gross sales knowledge now hast corn export sale commitments at 25.757 MMT, a document for the third week within the advertising 12 months and 75% above the identical week final 12 months. That’s 34% of the USDA export projection, in comparison with the 30% common gross sales tempo.
Heading into the September 30 Grain Shares report on Tuesday, analysts surveyed by Bloomberg are on the lookout for USDA to indicate 1.336 bbu of corn readily available as of September 1. The vary of estimates is 1.26 to 1.45 bbu.
A South Korea importer bought a complete of 68,000 MT of corn in a young on Friday, with the origin not listed. Argentina’s Ag ministry estimates the nation’s corn crop at 12% planted, forward of the 9% from final 12 months.
Dec 25 Corn closed at $4.22, down 3 3/4 cents,
Close by Money was $3.78, down 3 3/4 cents,
Mar 26 Corn closed at $4.38 3/4, down 3 1/2 cents,
Might 26 Corn closed at $4.48, down 3 1/4 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 data and knowledge on this article is solely for informational functions. This text was initially printed on Barchart.com
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