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Monday, March 20, 2023 6:01:32 PM
Corn Closes Off Day’s Lows
By: Barchart | March 20, 2023
Corn settled in the red on Monday, but futures were well off their earlier session lows. The front months bounced back from nearly a dime loss, but still closed 1 to 2 1/4 cents lower.
Texas was 40% planted for new crop corn. That is 5% ahead of the 5-yr average pace. Milo planting reached 28% of expected area, matching the 5-yr pace.
USDA reported 1.189 MMT of corn was inspected for export during the week that ended 3/16. That was up from 1.015 MMT the week prior, but was down 308k MT from the same week last year. The season’s export reached 17.523 MMT as of 3/16, still trailing last year’s pace. USDA also reported 94.5k MT of milo exports, bringing the season’s total to 914k MT.
The Black Sea Export Corridor agreement was renewed over the weekend as no party officially backed out. The key to watch however, is that Russia says they only agreed to a 60 day extension - despite the deal having been set to automatically renew for 120 days.
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DiscoverGold
By: Barchart | March 20, 2023
Corn settled in the red on Monday, but futures were well off their earlier session lows. The front months bounced back from nearly a dime loss, but still closed 1 to 2 1/4 cents lower.
Texas was 40% planted for new crop corn. That is 5% ahead of the 5-yr average pace. Milo planting reached 28% of expected area, matching the 5-yr pace.
USDA reported 1.189 MMT of corn was inspected for export during the week that ended 3/16. That was up from 1.015 MMT the week prior, but was down 308k MT from the same week last year. The season’s export reached 17.523 MMT as of 3/16, still trailing last year’s pace. USDA also reported 94.5k MT of milo exports, bringing the season’s total to 914k MT.
The Black Sea Export Corridor agreement was renewed over the weekend as no party officially backed out. The key to watch however, is that Russia says they only agreed to a 60 day extension - despite the deal having been set to automatically renew for 120 days.
Read Full Story »»»
DiscoverGold
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