Corn prices are slipping another 1 to 1 ½ cents to start the final trade day of the year. Futures slid into the Tuesday close, with contracts down 1 to 3 cents across most front months. Open interest was up 7,881 contracts on Tuesday. The CmdtyView national average Cash Corn price was down another penny at $3.98 3/4. The market will be closed on Thursday for New Years Day, with a hard open at 8:30 am CST on Friday.
USDA will release their Export Sales report this morning, with traders looking for between 1-2 MMT in corn sales in the week of 12/18.
Brazil’s December exports are expected to total 6.35 MMT according to ANEC, steady with the previous estimate.
Mar 26 Corn closed at $4.40 1/2, down 1 3/4 cents, currently down 1 1/4 cents
Nearby Cash was $3.98 3/4, down 1 cents,
May 26 Corn closed at $4.48 1/2, down 2 1/4 cents, currently down 1 cent
Jul 26 Corn closed at $4.54 1/2, down 2 1/2 cents, currently down 1 cent
