Parent Category: Commodity Price Category: Futures

Future contracts: Corn - CBOT, Chicago, USA; Corn - MATIFF, Paris; Corn - BMF, San Paulo, Brasilia; Corn - Budapest

AgriCharts Market Commentary

Corn
Corn futures closed higher but well off of their daily highs, supported by renewed concerns for a smaller corn crop in S America, a lower US dollar index and asset allocation moves. DJ survey average estimates showed 753 million bushels expected 2011/12 ending stocks. Another survey puts the average guess at 749 million. The USDA Export Inspections report this morning showed 33.899 million bushels inspected for export for the week ending January 5th with a total increase of 34.378 million bushels from last week after revisions to prior data. This is 13.296 million bushels more shipped out than for the same week last year. YTD shipments are 19.3 million bushels below last year at this time. They had been trailing by 30-40 million bushels. Index funds bought an estimated 5,000 contracts today as part of their annual asset allocation adjustment. Mar 12 Corn closed at $6.52, up 8 1/2 cents, May 12 Corn closed at $6.59 1/2, up 8 3/4 cents, Jul 12 Corn closed at $6.64 1/2, up 8 3/4 cents Dec 12 Corn closed at $5.83 1/2, up 8 1/4 cents

Corn - CBOT, Chicago, USA

10/01/2012 12.00 am Kiev

Do expect bullish in begining of 2012 year

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