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Barchart
Barchart
Austin Schroeder

Corn Trading Mixed on Thursday

Donald Trump CmdtyView Oil crude oil USDA

Corn futures are showing mixed trade with contracts within a penny of unchanged, as the front months are weaker. The CmdtyView national average Cash Corn price was up 3/4 cent at $4.15 3/4.  Crude Oil is up $10.54 higher at midday, following President Trump’s address the nation on Wednesday night that indicated 2-3 weeks more of strikes and an uncertain fate to the Strait of Hormuz. The market is closed on Friday in observance of Good Friday.

Export Sales data from this morning showed 1.15 MMT for old crop business in the week ending on 3/26, in the middle of traders looking for 0.9-1.6 MMT. That was down 5.6% from last week and 2% below the same period last year.  New crop business exceeded the new crop estimates of 0-100,000 MT at 102,609 MT. 

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