Corn price action is fractionally to 1 1/2 cents higher so far on Thursday morning. Futures posted weaker trade heading into Wednesday, with contracts fractionally to 2 cents lower on the session. Preliminary open interest was down 3,391 contracts on Wednesday. Much of that came via the old crop contracts. The CmdtyView national average Cash Corn price was down 1 1/2 cents at $3.84 1/2.
USDA reported a couple private export sales of 150,000 MT of corn to Colombia and 195,000 MT to unknown destinations on Wednesday morning.
Weekly EIA data will be pushed back to this morning due to the Monday holiday, with most looking for ethanol production to pull back from last week’s surge to a new all time record.
Mar 26 Corn closed at $4.21 3/4, down 2 cents, currently up 1 1/4 cents
Nearby Cash was $3.84 1/2, down 1 1/2 cents,
May 26 Corn closed at $4.29 3/4, down 1 1/2 cents, currently up 1 1/4 cents
Jul 26 Corn closed at $4.36 1/4, down 1 1/2 cents, currently up 1 cent
