Corn

Corn futures settled the Monday session with most contracts 2 to 3 1/4 cents in the red. The USDA reported a private export sale of 130,000 MT of corn to South Korea for 17/18 delivery through their daily reporting system this morning. The Export Inspections report this morning showed 1.074 MMT in corn shipments during the week ending 2/1. That was 6.2% larger than the week prior but 4.4% lower than the same week in 2017. China is launching an anti-dumping probe into imports of US sorghum to the country. This may be in response to President Trump placing tariffs on Chinese solar panels and washing machines last week. Chinese corn futures rallied sharply on the news.

Mar 18 Corn closed at $3.58 3/4, down 2 3/4 cents,

May 18 Corn closed at $3.66 1/2, down 3 cents,

Jul 18 Corn closed at $3.74 1/4, down 3 cents

Sep 18 Corn closed at $3.81 1/4, down 3 1/4 cents




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