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.
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,
