Corn futures are trading with gains of 5 to 6 cents in the front months on Friday. First notice day showed just 9 deliveries overnight all issued by the Bunge house account. The CmdtyView national average Cash Corn price is up 6 1/4 cents to $4.07 3/4. The spring base Crop Insurance price will be set by the close today, as the average December corn close has been $4.61, down 9 cents from last year.
USDA reported a private export sale of 257,000 MT of corn sold to unknown destinations this morning.
Export Sales data as of 2/19 showed corn commitments at 62.96 MMT, which is up 29% from the same period last year. That is 75% of the USDA export projected and now slightly behind the 77% average sales pace. Actual shipments are 46% of that estimate and 8 points ahead of the 38% average shipping pace.
A couple separate South Korean importers purchased a total of 201,000 MT of corn in a tender overnight.
Mar 26 Corn is at $4.39, up 5 3/4 cents,
Nearby Cash is at $4.07 3/4, up 6 1/4 cents,
May 26 Corn is at $4.49 1/2, up 6 cents,
Jul 26 Corn is at $4.56 3/4, up 5 1/2 cents,
