Corn value motion is down 4 to five cents to date on Wednesday morning. Futures closed the Tuesday session with contracts regular to 2 ¼ cents larger following some friendlier outdated crop numbers from USDA. Open curiosity was down 3,005 contracts in Might, however up 9,593 contracts throughout the remaining, largely in July and December. The brand new crop knowledge was rather less bull pleasant. The CmdtyView nationwide common Money Corn value was regular to $4.14.
USDA’s annual March Potential Plantings report from this morning confirmed a complete of 95.338 million acres of corn anticipated to be planted this spring. That will be a 3.45 million acre drop from a yr in the past if realized, however was above the 94.37 million acres common commerce guess. The survey of producers was accomplished within the first two weeks of March.
Grain Shares knowledge was tallied at 9.024 billion bushels for March 1. That was 89 mbu beneath the common commerce guess however nonetheless a rise of 887 mbu from a yr in the past. December 1 shares have been revised 23 mbu larger to 13.306 bbu.
Might 26 Corn closed at $4.57 3/4, up 2 cents, presently down 5 cents
Close by Money was $4.14 0/1, down 0 cent,
Jul 26 Corn closed at $4.68 1/4, up 3/4 cent, presently down 4 3/4 cents
Dec 26 Corn closed at $4.84 1/4, up 1/4 cent, presently down 4 3/4 cents
New Crop Money was $4.41 1/1, down 3/4 cent,
On the date of publication, Austin Schroeder didn’t have (both immediately 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. This text was initially printed on Barchart.com
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