Corn Holding onto Losses at Midday Following Trump Iran Comments

Corn futures are down 3 to 6 cents truthful acold connected Monday. The CmdtyView nationalist average Cash Corn terms is down 5 3/4 cents to $4.18.

Early connected Monday morning, President Trump enactment retired a Truth Social station ordering the subject to postpone strikes against Iranian powerfulness plants and vigor infrastructure for 5 days aft play tales were “good and productive.” Iran authorities media responded stating determination was nary nonstop oregon indirect interaction with the President. Oil is down $9.03 astatine midday.

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USDA reported a backstage export merchantability of 102,000 MT of maize sold to Mexico this morning.

Export Inspections information showed maize astatine 1.7 MMT (66.9 mbu) shipped successful the week that ended connected March 19. That was up 1.79% from past week, and 9.83% supra the aforesaid week past year. Mexico was the apical destination of 483,855 MT, with 327,512 MT to Japan and 180,375 MT to Colombia. Marketing twelvemonth shipments person totaled 44.58 MMT (1.755 bbu), which is up 37.8% yr/yr. China was the sole destination for 182,179 MT of sorghum.

The Friday update to the CFTC Commitment of Traders study showed a full of 35,533 contracts added to the managed wealth nett agelong presumption successful maize futures and options arsenic of Tuesday. That took the nett agelong to 228,804 contracts, arsenic shorts dropped to their lowest level since past March. Commercials added 44,702 contracts to their nett abbreviated of 522,116 contracts arsenic shaper selling continues to prime up.

Brazil’s AgRural estimates the Brazilian 2nd maize harvest astatine 97% planted arsenic of past Thursday, arsenic past twelvemonth was already completed by this point.

May 26 Corn is astatine $4.59 3/4, down 5 3/4 cents,

Nearby Cash is astatine $4.18, down 5 3/4 cents,

Jul 26 Corn is astatine $4.70 3/4, down 5 1/4 cents,

Dec 26 Corn is astatine $4.87, down 3 3/4 cents,

On the day of publication, Austin Schroeder did not person (either straight oregon indirectly) positions successful immoderate of the securities mentioned successful this article. All accusation and information successful this nonfiction is solely for informational purposes. This nonfiction was originally published connected Barchart.com