Mixed sentiment sees the Corn future ending the day broadly flat; establishes tight $673 to $675.25 range

Published: January 26 2023, 03:00 GMT+0

Mixed sentiment sees the Corn future ending the day broadly flat; establishes tight $673 to $675.25 range

Corn trades at $674 per bushel, after ending yesterday at $674.75.

Corn's state is reflected by market data as highly important Crude Oil Inventories data from United States beat analyst expectations of 971,000 with a reading of 533,000. United States 5-Year Note Auction released yesterday at 18:00 UTC with a figure of 3.53, while the previous figure was 3.973. United States Cushing Crude Oil Inventories released yesterday at 15:30 UTC with a figure of 4.27 million, while the previous figure was 3.65 million.

Meanwhile, mixed performances are seen in other Grains as Oats closed at $371 (down 1.85%).

Moreover, as things stand, upcoming United States Core Durable Goods Orders data is projected to fall short of market expectations with newly published data of -0.2%, following on from the preceding figure of 0.1%. New data is set to be published today at 13:30 UTC. United States Pending Home Sales is projected to outperform its last figure with -0.9%. It previously stood at -4%; data will be released tomorrow at 15:00 UTC. United States Core PCE Price Index (MoM) (Dec) is expected tomorrow at 13:30 UTC.

Trading mostly sideways for a month. Having set a significant low of $562.5 6 months ago, CME Corn is trading 19.96% higher.

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