CME Group/Chicago HQ
Local: +1 312 930 1000
Toll Free: +1 866 716 7274
Global Customer Contacts
Product inquiries, website issues,
and specific questions
Phone: +1 312 930 2316
Toll Free: +1 800 331 3332
More CME Group Direct Lines
Phone list by department
May Corn finished down 7 at 726, 7 off the high and 6 up from the low. July Corn closed down 9 1/2 at 707 3/4. This was 4 1/4 up from the low and 9 1/4 off the high.
May corn traded lower for most of the session as traders took profits ahead of the weekend and after old crop corn failed at key technical levels. A well followed grains analyst estimated that the US 2013/14 corn planted acreage would reach 97.75 million acres, down from 99.30 in prior estimates and against USDA estimate of 97.2 million acres in 2012/13. Light support in the December 2013 contract was found following the report. The trade is also becoming concerned with the weather outlook over the next 2 weeks. Weather forecasts continue to call for below normal temperatures which will slow down the planting pace in the eastern Corn Belt and southeast. The weather in Argentina remains dry this week and into the weekend but temperatures are moderate which should limit the stress on crops. The Agriculture of Ministry in Argentina estimated 2012/13 production at 25.7 million tonnes, up from 21.2 the year prior and against the current USDA estimate of 26.5 million tonnes.
May Rice finished up 0.115 at 14.9, 0.04 off the high and 0.03 up from the low.
*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.