Corn Posting Tuesday Gains

ZC=F +0.22%

Corn futures are showing gains of fractionally to 3 cents across most contracts on Tuesday as the market is putting some carry back in. The CmdtyView national average Cash Corn price is down ¾ cents at $3.87 1/4. The market will be closed on Thursday for Thanksgiving, with a hard open at 8:30 CST on Friday.

Export Sales data from this morning showed a total of 1.327 MMT of corn sold in the week of 10/9, in the middle of traders looking for 0.9-2.5 MMT in the delayed dataset. That was a 4-week low and below the same week last year. Data for the week of 10/16 will be out on Friday.

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The final Crop Progress report from NASS for the year showed a total of 96% of the corn crop harvested, slightly behind the 5-year average of 97%.

Several South Korean importers purchased a total of at least 324,000 MT of corn in tenders overnight, with at least 68,000 MT expected from the US.

Dec 25 Corn is at $4.24, up 1/4 cent,

Nearby Cash is at $3.87 1/4, up 3/4 cent,

Mar 26 Corn is at $4.38 1/2, up 1 3/4 cents,

May 26 Corn is at $4.47 1/4, up 3 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. This article was originally published on Barchart.com