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Tuesday, March 21, 2023 6:32:18 PM
Red Close From Corn Market
By: Barchart | March 21, 2023
The corn futures market ended Tuesday’s session 2 3/4 to 4 1/4 cents in the red. For May that was 8 1/4 cents off the day’s high. The Dollar Index was lower again on Tuesday, going into the widely anticipated FOMC decision tomorrow.
The Commitment of Traders data for the week ending March 14 was released today, and showed spec traders had added 48.8k shorts and closed 26.4k longs during the week. That flipped the group net short for the first time since August of 2020. CFTC showed commercial hedgers were adding longs during the week, which reduced their net short by 66k to 165,518 contracts as of 3/14.
USDA announced another private export sale to China this morning, for 136 MT of old crop corn.
The Ukrainian Ag Ministry reported the spring planting season has begun, earlier than normal, with 26k HA of spring wheat already planted. Ukraine’s Farm Ministry forecasts a 9 MMT lighter grain harvest of 44.3 MMT for 2023. Of that, 25.6 MMT is forecasted to be corn production.
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DiscoverGold
By: Barchart | March 21, 2023
The corn futures market ended Tuesday’s session 2 3/4 to 4 1/4 cents in the red. For May that was 8 1/4 cents off the day’s high. The Dollar Index was lower again on Tuesday, going into the widely anticipated FOMC decision tomorrow.
The Commitment of Traders data for the week ending March 14 was released today, and showed spec traders had added 48.8k shorts and closed 26.4k longs during the week. That flipped the group net short for the first time since August of 2020. CFTC showed commercial hedgers were adding longs during the week, which reduced their net short by 66k to 165,518 contracts as of 3/14.
USDA announced another private export sale to China this morning, for 136 MT of old crop corn.
The Ukrainian Ag Ministry reported the spring planting season has begun, earlier than normal, with 26k HA of spring wheat already planted. Ukraine’s Farm Ministry forecasts a 9 MMT lighter grain harvest of 44.3 MMT for 2023. Of that, 25.6 MMT is forecasted to be corn production.
Read Full Story »»»
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