Corn Collapses to Kickoff March | U.S. Finance Information
Corn closed the Monday session with longs persevering with their exodus forward of the March 4 tariff begin date. Contracts had been down 13 to 14 cents within the entrance months, with new corn December 3 ¾ cents. CmdtyView’s national average Money Corn price was down 8 cents at $4.15. President Trump has indicated he’ll observe by with the tariffs on Mexico and Canada. There has but to be any retaliatory measures from both nation forward of the potential implementation.
The USDA reported a non-public export sale of 114,000 MT of corn to Mexico this morning for 2024/25.
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The month-to-month Grain Crushing report from NASS confirmed a complete of 457.389 mbu of corn used for ethanol manufacturing in January. That was a 4.6% decline from December’s revised (6.5 mbu larger) complete however 3.7% bigger than the identical month final 12 months. That took the advertising and marketing 12 months grind for ethanol to 2.322 bbu, 2.17% above the 2023/24 MY.
This morning’s Export Inspections report confirmed a complete of 1.351 MMT (53.2 mbu) of corn shipped within the week that ended on February 27. That was an increase of 15.86% from final 12 months and 17.91% above the identical week final 12 months. The biggest vacation spot was Mexico at 41,6371 MT, with 272,570 MT to Japan and 138,421 MT to Spain. Advertising 12 months exports at the moment are at 27.257 MMT (1.073 bbu), which is now 31.69% above the identical week final 12 months.
Mar 25 Corn closed at $4.40 1/4, down 13 1/4 cents,
Close by Money was $4.15, down 8 cents,
Could 25 Corn closed at $4.56 1/4, down 13 1/4 cents,
Dec 25 Corn closed at $4.51 1/4, down 3 3/4 cents,
New Crop Money was $4.17 3/4, down 3 1/4 cents,
On the date of publication,
Austin Schroeder
didn’t have (both straight or not directly) positions in any of the securities talked about on this article. All info and knowledge on this article is solely for informational functions. For more info please view the Barchart Disclosure Coverage
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The views and opinions expressed herein are the views and opinions of the creator and don’t essentially replicate these of Nasdaq, Inc.
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