The corn market will resume trading with a hard open at 8:30 am CST this morning. Corn futures rounded out the pre-Christmas session with contracts 3 to 4 cents higher. Preliminary open interest was up 802 contracts on Wednesday. The CmdtyView national average Cash Corn price was up 3 1/2 cent to $4.07 1/2.
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.
The Buenos Aires Grain Exchange estimates the Argentina corn crop at 77.7% planted, ahead of average, with conditions of the crop emerged rated at 87% good/excellent, compared to 38% last year.
Mar 26 Corn closed at $4.51, up 3 1/2 cents,
Nearby Cash was $4.07 1/2, up 3 1/2 cents,
May 26 Corn closed at $4.59, up 3 1/2 cents,
Jul 26 Corn closed at $4.64 1/2, up 3 1/2 cents,
