Latest news with #USDAreports
Yahoo
21 hours ago
- Business
- Yahoo
Corn Bulls Get a Bounce into the Weekend
Corn futures closed the Friday session with gains of 6 to 8 cents in the front months as bears let off the gas into the weekend ahead of Monday's USDA reports. July was down 11 ¼ cents this week, with December losing 14 ¼ cents. The front month CmdtyView national average Cash Corn price was up 8 cents at $3.94. Ahead of the USDA Grain Stocks report, analysts estimate a total of 4.625 billion bushels of corn in stocks on June 1. That would be down 372 mbu from the year prior if realized. The range of estimates is at 4.459 to 4.798 bbu. Monday's Acreage report is expected to show 95.4 million acres for corn according to a Bloomberg survey, up ~200,000 acres from March. Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! The weekly CFTC Commitment of Traders report indicated large managed money spec traders in corn futures and options trimmed back 2,506 contracts from their large net short position. As of Tuesday, they held a net short of 182,282 contracts. Export Sales data has total commitments at 67.574 MMT, which is 99% of USDA's full year projection and slightly behind the 100% average sales pace. Statistics Canada data from this morning showed estimated Canadian corn acreage at 3.732 million acres, up 2.2% from a year ago. Jul 25 Corn closed at $4.17 1/2, up 8 cents, Nearby Cash was $3.94, up 8 cents, Sep 25 Corn closed at $4.11 1/2, up 7 1/2 cents, Dec 25 Corn closed at $4.27, up 6 cents, New Crop Cash was $3.84 3/8, up 6 1/4 cents, On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Yahoo
2 days ago
- Business
- Yahoo
Corn Seeing Buying Ahead the Weekend
Corn futures are trading with contracts 4 to 6 cents higher at Friday's midday, as traders square up ahead of the Friday USDA reports. The front month CmdtyView national average Cash Corn price is up 5 3/4 cents at $3.92 3/4. Ahead of the USDA Grain Stocks report, analysts estimate a total of 4.625 billion bushels of corn in stocks on June 1. That would be down 372 mbu from the year prior if realized. The range of estimates is at 4.459 to 4.798 bbu. Monday's Acreage report is expected to show 95.4 million acres for corn according to a Bloomberg survey, up ~200,000 acres from March. Coffee Prices Move Higher as the Dollar Falls Cocoa Prices Jump as Ghana Cuts its Cocoa Production Forecast Sugar Prices Tumble on an Expected Global Sugar Surplus Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. Export Sales data has total commitments at 67.574 MMT, which is 99% of USDA's full year projection and slightly behind the 100% average sales pace. Statistics Canada data from this morning showed estimated Canadian corn acreage at 3.732 million acres, up 2.2% from a year ago. Jul 25 Corn is at $4.15 1/2, up 6 cents, Nearby Cash is at $3.92 3/4, up 5 3/4 cents, Sep 25 Corn is at $4.09, up 5 cents, Dec 25 Corn is at $4.25 1/4, up 4 1/4 cents, New Crop Cash is at $3.82 1/2, up 4 1/2 cents, On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
