Corn bulls pushed again on Thursday, coming off in a single day lows and shutting with entrance months fractionally blended and new crop December down 1 ¼ cents. are nicely off their in a single day lows. The CmdtyView nationwide common Money Corn value was down 1/4 cent on the day at $4.27 1/4.
Wednesday’s “Liberation Day” tariffs got here with Mexico and Canada left off the listing as exemptions on all USMCA compliant items stay. Of the opposite main US corn patrons, reciprocal tariffs have been on Japan at 24%, South Korea at 25% and a baseline of 10% on Colombia have been put in place. They go into impact on April 9, with the ten% set to start on April 5. There has to date been no retaliatory measures positioned by any nation.
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Export Gross sales knowledge confirmed 1.173 MMT in 2024/25 corn gross sales through the week ending on March 27, coming in between the commerce estimates of 0.8 and 1.6 MMT. That was a 12.9% improve from the week prior and nonetheless 23.8% bigger than the identical week final yr. South Korea was the highest purchaser of 339,400 MT, in that week with Mexico in for 226,500 MT and Japan shopping for 168,500 MT. New crop gross sales have been tallied at 165,000 MT, all for Japan and exceeding the commerce concepts of 0-100,000 MT.
February corn exports have been reported at 6.03 MMT (237.5 mbu) in accordance with Census knowledge this morning. That was down 2.11% from the January complete however up 12.33% from final yr and the third largest Feb complete on document. That takes the advertising and marketing yr complete to 1.207 bbu by the top of February. DDG exports have been again under final yr at 849,645 MT, with ethanol simply 0.2% under 2024 at 138.75 million gallons.
Could 25 Corn closed at $4.57 1/2, down 1/4 cent,
Close by Money was $4.27 1/4, down 1/4 cent,
Jul 25 Corn closed at $4.65 1/2, up 1/4 cent,
Dec 25 Corn closed at $4.47 1/2, down 1 1/4 cents,
New Crop Money was $4.10, down 1 3/4 cents,
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Reference :
https://www.nasdaq.com/articles/corn-closes-mixed-action-thursdays