Corn price action is showing fractional losses so far on Wednesday morning. The corn market saw Tuesday gains of 2 to 3 cents across most contracts at the close. Preliminary open interest showed some exiting of December, down 44,027 contracts, with the rest of the board seeing open interest up 16,270 contracts. The CmdtyView national average Cash Corn price was up 2 3/4 cents at $3.92 3/4.
Ahead of the expected USDA Crop Production report on Friday, a Reuters poll of analysts showed corn yield expected to drop 2.7 bpa to 184 bpa, as production is seen at 16.557 bbu, a 257 mbu drop from the September report if realized.
ANEC estimates the November Brazilian corn export total at 6.04 MMT, a 0.47 MMT increase over the previous estimate
Dec 25 Corn closed at $4.32, up 2 1/4 cents, currently down 1/4 cent
Nearby Cash was $3.92 3/4, up 2 3/4 cents,
Mar 26 Corn closed at $4.47, up 2 1/2 cents, currently down 3/4 cent
May 26 Corn closed at $4.56, up 2 1/2 cents, currently 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.
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