Corn futures are trading with fractional to penny gains so far on Tuesday, following friendly USDA report. The CmdtyView national average Cash Corn price is up ¾ cent at $3.96.
The monthly WASDE update from the USDA showed the US ending stocks cut by 100 mbu, with carryout projected at 2.117 bbu. The only major adjustment was a 100 mbu increase to the export projection.
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The world numbers also got an update, with Brazil corn production unchanged, as well as Argentina. World ending stocks were projected at 288.98 MMT, down 1.93 MMT from January.
Mar 26 Corn is at $4.29 1/2, up 3/4 cent,
Nearby Cash is at $3.96, up 3/4 cent,
May 26 Corn is at $4.37 3/4, up 3/4 cent,
Jul 26 Corn is at $4.44 3/4, up 1 cent,
