The corn market is down 1 to 2 cents so far on Monday AM Trade as traders come back from the short Friday session. Volume was limited. Corn finished off the Friday session with contracts anywhere from ¾ to 7 ¼ cents higher, led by the nearbys. March was down just 2 ¼ cents last week, with Friday’s rebound minimizing the damage. On the month, March was up 7 cents. There were another 111 deliveries issued against December corn futures, all stopped by an R.J.O’Brien customer. The national average Cash Corn price from cmdtyView was up 15 cents at $4.07 1/2 per bu.
Export Sales data showed a total of 1.06 MMT in the week that ended on November 21, which was on the lower end of 0.8 and 2 MMT estimates for 2024/25 corn bookings and a 9-week low. Mexico was the buyer of 405,200 MT, with South Korea purchasing 134,100 MT. Another 67,200 MT was sold for 2025/26 to Mexico.
AgroConsult estimates the Brazilian corn crop at 132.7 MT for 2024/25, with the second crop at 107.3 MMT of that total. Brazil’s first corn crop is estimated at 94% planted in the Center-South region as of Thursday.
Dec 24 Corn closed at $4.23, up 7 1/4 cents, currently down 1 cent
Nearby Cash was $4.07 1/2, up 15 cents,
Mar 25 Corn closed at $4.33, up 5 cents, currently down 1 1/2 cents
May 25 Corn closed at $4.39 3/4, up 4 1/2 cents, currently down 1 3/4 cents
- The "Yeah, but" Problem: What’s Holding The Grain Markets Back?
- Corn Demand in Focus: What The Cash Market May Be Trying To Say
- Do We Have to Wait Until Next Year for a Recovery in Wheat?
- Wheat: What's Bullish, What's Bearish and What To Watch Next
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