Front month corn futures are trading 1 1/4 to 4 cents higher at midday. The domestic soy/corn ratio was 2.57 at midday, compared to 2.41 at this time last year. That ratio has historically pulled bean acreage away from corn, but it is a long time until planting. The national cash average corn price from cmdtyView was $4/bushel at midday. The 11/10 average cash price was also $4, for the first time since August 9 of 2019. Chinese corn futures were 2,589 yuan/MT (~$10.03/bu) on the Dalian on 11/16. USDA announced a private export sale of 195,000 MT of corn to Mexico but none of the rumored sales to China.
Dec 20 Corn is at $4.20 1/4, up 4 cents, |
Mar 21 Corn is at $4.27, up 2 3/4 cents, |
May 21 Corn is at $4.30 1/2, up 2 1/4 cents, |
Jul 21 Corn is at $4.31 1/4, up 1 1/2 cents, |
--- provided by Brugler Marketing & Management