Corn futures are holding higher across most contracts on Thursday, with gains of 1 ¼ to 3 ¾ cent gains. June serial options expire against the July contract on Friday.
USDA’s weekly Export Sales report pegged a 4-week high in corn bookings at 911,151 MT during the week of May 16. That was in the middle of the 500,000 MT and 1.2 MMT estimates and 22.8% above the previous week. The top buyer was Mexico of 350,300 MT, with 273,800MT sold to China (263,000 MT switched from unknown) and 220,100 MT purchased by Japanese importers. New crop sales came in at 304,952 MT, the second highest for the MY and 286,000 MT sold to Mexico.
Jul 24 Corn is at $4.65, up 3 3/4 cents,
Nearby Cash is at $4.42, up 4 1/4 cents,
Sep 24 Corn is at $4.74, up 3 3/4 cents,
Dec 24 Corn is at $4.87, up 3 cents,
New Crop Cash is at $4.49 1/1, up 3 3/8 cents,
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Disclosure Policy here.
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
