Corn prices are down 2 to 3 cents in the nearbys on Friday morning. Futures posted fractional to 2 cent gains on Thursday. Preliminary open interest was down 5,812 contracts on Thursday, mostly in the March and July contract. The CmdtyView national average Cash Corn price was up 1 3/4 cents at $3.95 1/4.
Export Sales data from Thursday showed 1.649 MMT of corn sales in the week of January 22. That was back down from the previous week, but still 21.4% above the same week last year. Japan was the top buyer of 365,100 MT, with 350,800 MT to Mexico and 339,500 MT to Colombia.
Census trade data showed a total of 7.305 MMT (287.6 mbu) of corn shipped during November. That was the second largest total for the month on record and the largest monthly total since last April.
Distillers exports were down from a year ago at 933,557 MT. Ethanol exports were a record for November at 211.33 million gallons, which was also the second largest monthly total for any month on record.
Mar 26 Corn closed at $4.30 3/4, up 3/4 cent, currently down 2 1/2 cents
Nearby Cash was $3.95 1/4, up 1 3/4 cents,
May 26 Corn closed at $4.39, up 1 cent, currently down 2 1/2 cents
Jul 26 Corn closed at $4.45 3/4, up 1 3/4 cents, currently down 2 3/4 cents
