Corn Falling from Early Gains at Midday
The corn market is fading off the early strength from Wednesday morning, with contracts down anywhere from 1 to 4 cents at midday. The CmdtyView national average Cash Corn price is down 3 3/4 cents on Friday at $4.65.
The average close for December corn futures has been $4.71 so far through February. The average close during this month is used to determine the base crop insurance price. Last year was $4.66.
The weekly EIA report will be released on Thursday morning, with ethanol output likely to be down with the recent stocks buildup and weaker margins.
A Taiwan importer purchased 65,000 MT of corn in their tender overnight, likely from the US.
Mar 25 Corn is at $4.98, down 4 cents,
Nearby Cash is at $4.65, down 3 3/4 cents,
May 25 Corn is at $5.12 1/2, down 3 1/4 cents,
Dec 25 Corn is at $4.76 1/4, down 1 1/4 cents,
New Crop Cash is at $4.45 1/2, down 1 1/2 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. For more information please view the Barchart Disclosure Policy here.