Corn

Corn futures are trading to cent per bushel lower this morning. They settled fractionally higher on Tuesday as volatility remains notably lacking. The USDA Export Inspections report showed just 609,281 MT of corn shipments during the week of 12/21. That was 4.33% lower than last week and 37.95% behind the same week last year. Exports of corn for the 17/18 marketing year YTD are at 9.842 MMT, which is lagging last year by 40.03%. The weekly EIA report will be delayed until Thursday morning due to the shortened holiday week. Consultant Michael Cordonnier is sticking with his 88 MMT forecast for Brazilian corn production, with Argentina at 42 MMT.




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