date:Feb 06, 2013
March corn traded slightly lower into the closing bell after disappointing export data was released this morning. Inspections were only 5.3 million bushels, down sharply from 21.1 million the week prior.
Shipments needed each week to reach the USDA export estimates are now 21 million bushels, up from 20.50 the week prior. The cumulative shipment pace is now 33 per cent of the USDA export estimate vs. the 5 year average of 40 per cent.
The sluggish sales and shipment pace continues to suggest d