Corn price action is fractionally mixed on Tuesday morning. Futures saw contracts close steady to fractionally higher gains across most contracts on Monday. Preliminary open interest was down 39,395 contracts on Monday, much of that in March, dropping 67,295 contracts. May was up 20,505 contracts. The CmdtyView national average Cash Corn price was unchanged to $3.94 1/2.
USDA reported a private export sale of 125,000 MT of corn to Colombia on Monday morning.
Monday morning’s Export Inspections report showed 2.05 MMT (79.94 mbu) of corn shipped in the week of 2/19. That was the second largest total for the marketing year, 33.26% above the week prior and 71.91% above the same week last year. Japan was the largest destination of 445,467 MT, with 416,671 MT shipped to Mexico and 404,881 MT to South Korea. The marketing year total is now 37.745 MMT (1.486 bbu) of corn shipped since September 1, which is 45.64% larger than the same period last year.
Mar 26 Corn closed at $4.27 1/2, unch, currently up 1/2 cent
Nearby Cash was $3.94 1/2, up 0 cent,
May 26 Corn closed at $4.40 1/4, up 1/2 cent, currently down 1/2 cent
Jul 26 Corn closed at $4.48 3/4, up 1/2 cent, currently 3/4 cent
