Corn Bulls Pushing for Turnaround Tuesday

Austin Schroeder Barchart Tue Nov 12, 7:34AM CST
Yellow corn with husks removed by mute-gemini via Pixabay

Corn futures are showing 1 to 3 cent gains so far on Tuesday morning. Following the strength from last week, the corn market felt pressure from outside and a weaker wheat market on Monday, as contracts were 1 to 3 ½ cents lower. Preliminary open interest was up 33,838 contracts across all contracts with exception to the December contracts which was down 40,040 contracts. The national average Cash Corn price from cmdtyView was down 1/4 cent at $4.04 1/4 per bu. 

Export Inspections and Crop Progress data were delayed to today due to Veterans Day to start the week.

Brazil’s first corn crop was pegged at 72% planted as of last Thursday according to AgRural. Algeria purchased 160,000 MT of South American corn in their recent tender.

Dec 24 Corn  closed at $4.30, down 1 cent, currently up 2 1/2 cents

Nearby Cash  was $4.04 1/4, down 1/4 cent,

Mar 25 Corn  closed at $4.42 3/4, down 1 1/2 cents, currently up 1 3/4 cents

May 25 Corn  closed at $4.49 3/4, down 1 3/4 cents, currently up 1 1/4 cents


On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.