Corn futures are coming off early session lows with contracts up 1 to 2 cents by midday. CmdtyView’s national average cash corn price is down 1 3/4 cents to $3.93 3/4.
Following the meeting between President Trump and President Xi of China, President Trump hinted that China will purchase massive quantities of sorghum, although no details were given on the total.
With only 2 days left in crop price discovery for crop insurance, December corn has an average close of $4.21 during October. That’s one cent more than last year and 49 cents less than the spring price.
The USDA is still closed due to the shutdown, as traders expect between 1.1 and 2.1 million tons of corn to be sold in the week ending October 23.
December 25 Corn is $4.32 1/4, down 1 3/4 cents.
Near Cash is $3.93 3/4, down 1 3/4 cents,
March 26 Corn is at $4.45, down 1 3/4 cents.
On May 26, corn is at $4.53 1/4, down 1 3/4 cents.
As of the date of publication, Austin Schroeder had no (directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are for informational purposes only. This article was originally published on Barchart.com