Corn price action is holding onto the Friday gains as shorts are coving ahead of the weekend, with contracts 6 to 7 cent higher at midday. The CmdtyView national average Cash Corn price is $3.95, with new crop at $3.86 1/2.
The weather pattern for the next week continues to be a wet one from the Dakotas and Iowa to the Eastern Corn Belt. The forecast also calls for above normal temps for late July in parts of the country.
Export Sales data has both shipped and unshipped sales at 69.467 MMT, which is 99% of the current USDA forecast, lagging behind the 102% 5-year average pace. Shipments are 59.114 MMT, at 85% of the USDA numbers and behind the 88% pace.
Sep 25 Corn is at $4.08 3/4, up 6 3/4 cents,
Nearby Cash is at $3.95 0/1, up 6 3/4 cents,
Dec 25 Corn is at $4.28, up 7 cents,
Mar 26 Corn is at $4.45 1/4, up 7 cents,
New Crop Cash is at $3.86 1/2, up 7 cents,
