Corn Morning Update & Commentary: Opening calls are steady/better
<div class=\"default-font-wrapper\" style=\"line-height: 1;font-size: 12pt; font-family: Verdana, Geneva, sans-serif;\">Corn Morning Update & Commentary:<br><br id=\"isPasted\">Corn futures appear to be cruising toward a ‘steady to slightly better’ open this morning; there was no overnight trade due to holiday. Grain news is extremely light to start, which one would fully expect the day after Christmas, but recent technical momentum has been positive, and we suspect there will be some stops lurking around $4.50 in the March that are just begging to be triggered? South American weather remains roughly the same; Brazil stays well-watered, while Argentina trends a little dry into the new year. There is some rain in the forward outlook for Argentina, but there is now a deficit that needs to be filled? Note that weekly gov’t reports have been pushed back; export sales are due bright and early tomorrow, and the weekly EIA is due late tomorrow morning. CFTC has been pushed to Monday afternoon? There were no 8 AM sales today, and export news was quiet over Christmas (which again is not unusual).<br> <br>The corn market continued on its merry way, posting nearly one cent gains on a light volume Christmas Eve Tuesday trading session. Funds are heading into year’s end moderately long to the tune of around 165,000 delta-adjusted corn. Cash corn trade leaned easier amid brisk farm movement earlier this month.<br> <br> <br>QT News - Top News<br> <br>-- IKAR analysts on Thursday projected 2025/26 MY Russian grain exports will total 52.0 mln mt, that includes 41.0 mln mt of wheat. The group also noted Russia's share of the world's wheat trade would fall to 20% in the 24/25 marketing year, off from the previous year's 25%, however they are expected to remain the top exporter country.<br> <br>-- Chinese ag data released Thursday placed the country's end of November 2024 sow herd at 40.80 mln head, that's off -1.9% from the year ago month. Over the first 11 months of 2024 hog slaughter has fall -2.6% on year over year terms to 296.1 mln head.<br> <br> <br> <br>Pending Tenders<br> <br>NA<br> <br> <br> <br>-- Dalian May corn futures on Thursday traded +1 yuan higher ending at 2,204 yuan/mt<br><br>KJ</div>