Corn futures are sticking close to unchanged on Thursday morning with contracts steady. The corn market was 3 to 4 cents higher across most contracts on Wednesday. Preliminary open interest slipped back down 6,238 contracts on Wednesday, indicating some shorts covering. The CmdtyView national average Cash Corn price was up 3 ¾ cents at $3.74.
EIA data will be pushed back to a Thursday release due to the Monday holiday, with some looking to see if ethanol output can continue to bounce back following last week. Export Sales data would normally be pushed to Friday due to the shutdown, though the government shutdown is suspending that. Traders estimate that corn bookings totaled 0.9 to 2 MMT in the week of 10/9.
Two separate South Korean importers purchased a total of 269,000 MT of corn in private tenders on Wednesday, with no official origins listed.
Dec 25 Corn closed at $4.16 3/4, up 3 3/4 cents, currently unch
Nearby Cash was $3.74, up 3 3/4 cents,
Mar 26 Corn closed at $4.32 1/4, up 3 cents, currently unch
May 26 Corn closed at $4.41, up 3 cents, currently up ¼ cent
