Corn futures are getting a rally into the Pre-Christmas weekend, wth contracts up 5 to 6 cents in the front months. March is just over a nickel off the October high of $4.52 ¼. The national average Cash Corn price from cmdtyView is up 5 3/4 cents at $4.17 1/4.
USDA reported a private export sale of 150,000 MT of corn to Columbia this morning for 2024/25 shipment.
Export Sales data from Thursday morning showed accumulated corn shipments are now 13.621 MMT. That is up 31% from last year and 22% of USDA’s full year export projection, ahead of the 19% average pace. Including unshipped sales, commitments are 36.313 MMT, 29% above last year. That is also 58% of the USDA number, with the average pace at 55%.
Mar 25 Corn is at $4.46 1/2, up 5 3/4 cents,
Nearby Cash is at $4.17 1/4, up 5 3/4 cents,
May 25 Corn is at $4.52 1/4, up 6 cents,
Jul 25 Corn is at $4.54 3/4, up 5 1/2 cents,
- Merchandiser Insights: Understanding What Basis Moves Are Saying About Supply And Demand In Grains
- The "Yeah, but" Problem: What’s Holding The Grain Markets Back?
- Corn Demand in Focus: What The Cash Market May Be Trying To Say
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
