Corn futures are 3 ¼ to 5 cents higher across most contracts at Tuesday’s midday. Short covering was noted on Monday, with preliminary open interest dropping 18,903 contracts, mainly in the December contract (-21,393). The CmdtyView national average Cash Corn price is up 4 1/4 cents to $3.92 ½.
Crop Progress data was not reported on Monday due to the government shutdown, with traders looking for 72% of the corn crop harvested as of 10/26.
A South Korean importer purchased 204,000 MT of corn in a tender overnight. No origin was listed for the purchase. Brazil’s ANEC estimates the country’s corn exports in October at 6.19 MMT, a 0.38 MMT drop from their prior estimate.
Dec 25 Corn is at $4.33, up 4 1/4 cents,
Nearby Cash is at $3.92 1/2, up 4 1/4 cents,
Mar 26 Corn is at $4.47 3/4, up 3 1/2 cents,
May 26 Corn is at $4.57, up 3 1/4 cents,
