Corn

Corn futures are showing fractional gains ahead of Friday’s barrage of USDA reports. Old crop corn export sales totaled 437,745 MT for the week of Jan 4 in this morning’s USDA report. That was an improvement over last week’s MY low, but still lags the first week in 2017 by 27.44%. Analysts expectations were in the range of 350,000-650,000 MT. Shipments of 889,815 MT were also reported, a 28.24% jump over the same time last year. Ahead of Friday’s USDA reports, analysts are expecting 17/18 world ending stocks to be trimmed nearly 1.5 MMT to 202.6 MMT. Thursday’s CONAB report showed expected 17/18 Brazilian production at 92.3 MMT, up 0.1 MMT from December’s estimate.

Mar 18 Corn is at $3.49 3/4, up 3/4 cent,

May 18 Corn is at $3.57 3/4, up 3/4 cent,

Jul 18 Corn is at $3.65 3/4, up 3/4 cent

Sep 18 Corn is at $3.73 3/4, up 3/4 cent




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