Corn Giving Some Strength Back on Friday

Corn futures are showing midday losses of 1 to 2 1/4 cents so far on Friday. The CmdtyView national average Cash Corn price is down 2 1/4 cent to $4.04 1/4. Futures may be getting spillover weakness from crude oil losses of $1.13/barrel. 

Reports from the government are pushed back due to the holiday declared for today. EIA will be released on Monday, with the next Export Sales release for the week ending on 12/18 out on Wednesday.

Export Sales data has total corn export commitments at 47.579 MMT as of December 11, which is 31% above a year ago. That is also 59% of USDA’s record projection, in line with the 57% average sales pace. Actual shipments are 28% of that projection, ahead of the 19% 5-year average.

Mar 26 Corn is at $4.48 3/4, down 2 1/4 cents,

Nearby Cash is at $4.04 1/4, down 2 1/4 cents,

May 26 Corn is at $4.57 1/4, down 1 3/4 cents,

Jul 26 Corn is at $4.63 1/4, down 1 1/4 cents,

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.