Corn

Corn futures settled the day with most contracts within 1/4 cent of UNCH ahead of Friday’s barrage of USDA reports. Old crop corn export sales totaled 437,745 MT for the week of Jan 4 in this morning’s USDA report. That was an improvement over last week’s MY low, but still lags the first week in 2017 by 27.44%. Analysts expectations were in the range of 350,000-650,000 MT. Shipments of 889,815 MT were also reported, a 28.24% jump over the same time last year. Thursday’s CONAB report showed expected 17/18 Brazilian production at 92.3 MMT, up 0.1 MMT from December’s estimate. The Rosario Grain Exchange now expects Argentina’s corn crop to be 39.9 MMT, down 1.6 MMT from their previous projection.

Mar 18 Corn closed at $3.48 3/4, down 1/4 cent,

May 18 Corn closed at $3.57, unch,

Jul 18 Corn closed at $3.65, unch,

Sep 18 Corn closed at $3.73, unch




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