Corn’s future ended the session on Monday with contracts of 7 to 9 cents. The national average corn price of the front month CMDTYVIEW was reduced 8 3/4 cents to $ 3.96 1/4. Crude oil was reduced by $ 6.70 as the market failed to follow much upside through a reaction to US strikes at Iran’s nuclear capacity over the weekend. Iran announced a missile attack on the US base in Qatar on Monday, although they gave the White House head and no damage was reported. The market expects to see things silent after and forth.
After closing on Monday, the report on the progress of USA crops showed that corn at 97% appeared across the country, 1 point behind the average pace of five years. Agricultural culture was also listed 4% silk, before the average pace of 3%. The assessment of the situation decreased by 2 percentage points to 70% good/excellent, under trade ideas by 72%. The Brigleer500 index was 3 points lower to 376 points.
Export inspections showed 1.48 mmt (58.13 MBU) corn delivered on Sunday, which ended on June 19, which was reduced by 12.91% of the previous week, but still increased by 28.07% of the same week last year. Mexico was a top destination of 345,857 MT, with 249,885 MT heading to Japan. Marketing deliveries are 53,547 mmt (2,108 BBU) from September 1, 28.51% more years.
The delayed CFTC report has shown that the managed money is increasing their net short futures position and corn options for another 20,768 contracts as of June 17. Their net short position nearly a week ago was 184,788 contracts.
The second harvest of Brazil’s corn is estimated at 13% completed in the Center-South region, according to Argural, which is well below 34% of this point last year.
July 25 corn closed to $ 4.19 1/4, down 9 1/2 cents,
Near Gotovina were $ 3.96 1/4, down 8 3/4 cents,
September 25 corn closed to $ 4.17 1/2, down 8 cents,
December 25th corn closed to $ 4.33 3/4, down 7 1/2 cents,
The new money crops were $ 3.90 1/2, down 7 3/4 cents,
On the day of publication, Austin Schroeder had no (directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are only for informational purposes. This article was originally published on Barchart.com
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