Corn futures are trading with 5 to 7 cent gains at Friday’s midday. This morning’s Export Sales report showed international buyers taking advantage of last week’s price break. The CmdtyView national average Cash Corn price is up 6 3/4 cents at $3.94 1/2.
USDA’s Export Sales report from this morning showed with corn bookings at the largest since March 2021 at 4.01 MMT, and well above estimates of 1.9 to 3.1 MMT in the week of January 15. Excluding China purchases and bunched week sales from previous shutdowns, that was the largest week of sales since 1991. Sales were more than double the same week last year.
Mar 26 Corn is at $4.30 3/4, up 6 3/4 cents,
Nearby Cash is at $3.94 1/2, up 6 3/4 cents,
May 26 Corn is at $4.38 1/2, up 6 1/4 cents,
Jul 26 Corn is at $4.44, up 5 1/2 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
