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Tuesday, February 14, 2023 8:55:54 AM
Corn Mixed For Day Session
By: Barchart | February 14, 2023
Corn futures are trading fractionally mixed to 2 cents higher following the overnight session. They ended Monday with contracts firm to 4 ½ cents higher. The nearby March was up the 4 ½. New Crop December added to the discount, only seeing a ¾ cent gain.
USDA’s weekly Export Inspections report showed 511,506 MT of corn was shipped during the week that ended 2/09. That was up from 494,000 MT last week but was well below the 1.46 MMT during the same week last year. Mexico was the top destination @ 297,817 MT. The season’s exports reached 13.06 MMT through February 9, which remains 35% behind last year's pace. Milo exports from the report reached 497,639 MT compared to 2.62 MMT during the same point last year.
AgRural estimates Brazil’s Corn planting is 25% complete on the second crop, lagging behind the 42% pace from last year.
USDA’s Ag Attache reduced their outlook for the Argentina corn crop to 45 MMT citing the drought. They showed that 35-40% of the early planted corn crop had serious damage and that the late planted corn is also showing some effects despite beneficial rain in late Jan – early Feb.
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By: Barchart | February 14, 2023
Corn futures are trading fractionally mixed to 2 cents higher following the overnight session. They ended Monday with contracts firm to 4 ½ cents higher. The nearby March was up the 4 ½. New Crop December added to the discount, only seeing a ¾ cent gain.
USDA’s weekly Export Inspections report showed 511,506 MT of corn was shipped during the week that ended 2/09. That was up from 494,000 MT last week but was well below the 1.46 MMT during the same week last year. Mexico was the top destination @ 297,817 MT. The season’s exports reached 13.06 MMT through February 9, which remains 35% behind last year's pace. Milo exports from the report reached 497,639 MT compared to 2.62 MMT during the same point last year.
AgRural estimates Brazil’s Corn planting is 25% complete on the second crop, lagging behind the 42% pace from last year.
USDA’s Ag Attache reduced their outlook for the Argentina corn crop to 45 MMT citing the drought. They showed that 35-40% of the early planted corn crop had serious damage and that the late planted corn is also showing some effects despite beneficial rain in late Jan – early Feb.
Read Full Story »»»
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