Corn futures are showing steady trade on Friday, with some contracts fractionally lower at midday. The CmdtyView national average Cash Corn price is steady at $4.07 1/2.
After Thursday’s Export Sales report, US corn export commitments are now 50.895 MMT as of January 1, a 30% increase from last year. That is also 63% of the current USDA export projection for the marketing year and ahead of the 61% average sales pace. Actual shipments are 27.414 MMT, which is 34% of USDA’s forecast and ahead of the 24% normal shipping pace.
A couple South Korean importers purchased a total of 339,000 MT of corn in tenders overnight.
USDA’s WASDE report will be out on Monday, with a Bloomberg survey showing analysts looking for stocks to be tallied at 1.985 bbu, a 44 mbu reduction if realized.
Mar 26 Corn is at $4.46, unch,
Nearby Cash is at $4.07 1/2, down 0 cent,
May 26 Corn is at $4.53 3/4, down 1/4 cent,
Jul 26 Corn is at $4.60 1/4, down 1/4 cent,
