Corn futures closed the Tuesday session with contracts down 1 to 3 ½ cents across the front months, following sharp Monday losses. The CmdtyView national average Cash Corn price was down 1 3/4 cents at $3.81 1/2.
EIA data will be released on Wednesday morning, with traders looking for ethanol production to be steady following last week’s ballooning stocks total and drop in refiner inputs.
A couple South Korean importers purchased a total of 264,000 MT of corn in tenders overnight, with another tender for 140,000 MT issued for a Wednesday deadline.
Brazil’s January corn exports are projected at 3.27 MMT according to ANEC, up 0.42 MMT from the previous number.
Mar 26 Corn closed at $4.19 3/4, down 1 3/4 cents,
Nearby Cash was $3.81 1/2, down 1 3/4 cents,
May 26 Corn closed at $4.27 3/4, down 2 3/4 cents,
Jul 26 Corn closed at $4.34 1/2, down 3 1/2 cents,
