Corn Market Closes Mixed
Alan Brugler, Barchart
June 22, 2022
Old crop July prices bounced back with a 7 1/4 cent gain on the day. That is still a net 16 cent loss for the week, with the gap to the $7.80s still unfilled. New crop corn futures closed off their lows, and under the round number $7/bu mark on 7 cent losses.
Brazilís Patria Agronegocios reported 2nd crop corn harvest at 14.7% complete, compared to 8.3% on average. Agroconsult estimated the Brazilian 2nd crop corn output at 89.3 MMT, up from 87.6 MMT. That has the total Brazilian corn output as 114.8 MMT, still below some other recent estimates. Brazilís corn exports are estimated as 1.758 MMT for June from Anec.
The Ukrainian Ag Ministry reported spring crop planting had finished, with 4.6m HA of corn, compared to 5.5m last season. As a percentage of all spring crop land, corn was up to 34.3% on the 13.4m HA, compared to 32.5% on 16.9m total HA last year.
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