Corn Sticking Close to Unchanged at Midday

Corn futures are down fractionally within the close by contracts, with new crop December up ¼ cent. There have been 37 supply notices for July corn in a single day, taking the full for the month to 362. The entrance month CmdtyView nationwide common Money Corn value was down 1/4 cent at $3.85 1/4. 

USDA reported a personal export sale of 110,000 MT of corn to unknown locations this morning, all for brand spanking new crop.

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Export Gross sales knowledge from the morning confirmed previous crop corn coming in above 375,000 and 900,000 MT estimates at 1.262 MMT the week ending on July 7/3. That was an 8-week excessive for gross sales and greater than double the identical week final yr and the week prior. Mexico was the most important purchaser at 469,900 MT, with 436,200 MT offered to Japan. New crop additionally exceeded the commerce vary of 150,000 to 700,000 MT estimate for that week at 888,562 MT. That was down from the week prior however nonetheless the second largest to this point this yr. The highest purchaser was Mexico at 423,900 MT, with Japan in for 304,800 MT. 

CONAB estimates the Brazilian corn crop at 131.97 MMT through their month-to-month launch, up 3.72 MMT from final month on a 3.54 MMT improve to the second crop corn. Forward of the USDA report on Friday, a survey of merchants by Bloomberg exhibits estimated manufacturing out of Brazil at 132.3 MMT. 

Jul 25 Corn is at $4.10 1/4, down 2 1/4 cents,

Close by Money is at $3.85 1/4, down 1/4 cent,

Sep 25 Corn is at $3.99, down 1/4 cent,

Dec 25 Corn is at $4.15 3/4, up 1/4 cent,

New Crop Money is at $3.75 3/4, down 0 cent,

On the date of publication,

right here.

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