The midday corn market is trading 1 ¼ to 1 ½ cents higher, as prices are back to within a penny of the session highs.
USDA’s weekly Export Inspections data showed 713.3k MT (28.1 mbu) of corn was shipped during the week that ended 1/18. That was down 25% for the week and was 2% below the same week last year. USDA added 11.5k MT to Mexico and 59k MT to Japan from past reports, which put the season’s total export at 14.7 MMT (578.8 mbu). That remains 30% ahead of last year’s pace. Friday’s FAS data had 17.1 MMT (673 mbu) of unshipped sales on the books as of 1/11.
Algeria is tendering for 160k MT of feed corn. Wire sources had South Korea’s MFG as having bought 66k MT of feed corn via tender.
Mar 24 Corn is at $4.46 3/4, up 1 1/4 cents,
Nearby Cash is at $4.23 1/4, up 1 1/4 cents,
May 24 Corn is at $4.57, up 1 cent,
Jul 24 Corn is at $4.65 1/2, up 1 1/4 cents,
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