Corn Mixed at the Monday Close

Austin Schroeder Barchart Mon Dec 2, 4:46PM CST
Open corn cob with green leaves via Kwangmoozaa via iStock

Corn settled the Monday session with mixed action, as Nearby Dec was up 1 ½ and a few other deferreds steady to fractionally higher. The rest of the old crop contracts were fractionally lower. The national average Cash Corn price from cmdtyView was down 3 cents at $4.04 1/2.

USDA’s Grain Crushing report for October grind showed 460.49 mbu of corn used in ethanol production during the month. That was down 0.4% from last year bur a 3% hike from the same month last year. 

 

The weekly Export Inspections report from FGIS showed 935,859 MT (36.54 mbu) of corn shipped in the week that ended on November 28. That was 20.45% below the same week last year and 7.24% below last week. Columbia was the top destination of 244,540 MT, with shipments to Mexico limited to 200,201 MT. Marketing year shipments have totaled 11.07 MMT (435.8 mbu), which is 30.73% above last year and the largest for the current week in 6 years.

Delayed Commitment of Traders data showed spec funds in corn futures and options trimming their net long by 17,410 contracts as of 11/26. They held a net long of 97,442 contracts.

Dec 24 Corn  closed at $4.24 1/2, up 1 1/2 cents,

Nearby Cash  was $4.04 1/2, down 3 cents,

Mar 25 Corn  closed at $4.32 1/2, down 1/2 cent,

May 25 Corn  closed at $4.39, down 3/4 cent,


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.