Corn futures rose steadily to a penny in early months on Tuesday. The national average price of CmdtyView Cash Corn was steady at $3.95 1/4. The average close for December-February futures was $4.58 as the spring base price for crop insurance is underway.

USDA’s monthly WASDE update showed US ending stocks falling by 100 mbu, with a projected cost of 2.117 bbu. The only major adjustment was a 100 mbu increase in the export projection.

Global figures were also updated, with Brazil’s corn production unchanged, as well as Argentina’s. World ending stocks were projected at 288.98 MMT, down 1.93 MMT from January.

Brazilian corn exports are estimated to total 953,217 MT during February, according to ANEC, which is an increase of 159,953 MT from its previous number.

March 26 Corn closed at $4.28 3/4, unch,

The cash close was $3.95 1/4, down 0 cents,

Corn closed May 26 at $4.37 1/4, up 1/4 of a cent,

July 26 Corn closed at $4.44 3/4, up 1 cent,

As of the date of publication, Austin Schroeder had no positions (either directly or indirectly) in any of the securities mentioned in this article. All information and data in this article is for informational purposes only. This article was originally published on Barchart.com