Corn futures are 3 ¼ to 5 cents higher across most contracts Tuesday afternoon. Short covering was seen on Monday, with initial open interest falling by 18,903 contracts, mainly in the December contract (-21,393). CmdtyView’s national average cash corn price rose 4 1/4 cents to $3.92 ½.
While crop progress data was not reported Monday due to the government shutdown, traders expected 72% of the corn crop to be harvested by 10/26.
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A South Korean importer bought 204,000 metric tons of corn in an overnight tender. No originals were listed for purchase. Brazil’s ANEC estimates the country’s corn exports in October will be 6.19 MMT, down 0.38 MMT from their previous estimate.
December 25 Corn is at $4.33, up 4 1/4 cents,
cash nearby is at $3.92 1/2, up 4 1/4 cents,
March 26 Corn $4.47 is at 3/4, up 3 1/2 cents,
May 26 Mecca is at $4.57, up 3 1/4 cents,
On the date of publication, Austin Schroeder did not have (directly or indirectly) any positions in any securities mentioned in this article. All information and data in this article is for informational purposes only. Please see the Barchart Disclosure Policy here for more information.
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