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Barchart
Barchart
Austin Schroeder

Corn Holds onto Gains into Tuesday’s Close

CmdtyView

Corn futures closed Tuesday with contracts fractionally to a penny higher. The CmdtyView national average Cash Corn price was up 1/2 cent to $4.03. The markets will close early on Wednesday and remain closed for Christmas on Thursday with a hard open at 8:30 am CST on Friday. 

This morning’s USDA Export Sales update for the week of 12/11 showed 1.74 MMT of corn, on the high side of analysts’ estimates of between 0.9-1.8 MMT. That was a 17.9% increase from the data released on Monday for the week prior and 48.5% above the same week last year. Export sale commitments, which are now nearly caught up from the government shutdown, are 31% above the same week last year at 47.58 MMT (1.873 bbu).

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