The corn market found some support on Tuesday with contracts up 4 to 5 cents in the nearbys, as new crop was leaking lower, down ¼ in December. The CmdtyView national average Cash Corn price was up 5 cents at $4.40 1/2.
USDA reported a private export sale of 240,000 MT of corn for 2024/25 to Spain this morning.
The USDA will release their monthly WASDE report on Thursday morning, with traders looking for a cut to the US ending stocks projection by 30 mbu on average at 1.51 bbu. The range of estimates is a relatively wide 1.405 to 1.605 bbu.
May 25 Corn closed at $4.69, up 4 1/2 cents,
Nearby Cash was $4.40 1/2, up 5 cents,
Jul 25 Corn closed at $4.74 3/4, up 4 cents,
Dec 25 Corn closed at $4.45 3/4, down 1/4 cent,
New Crop Cash was $4.10 1/2, down 0 cent,
