Corn futures are trading with 2 to 4 cent gains so far through midday, as the week’s marginal rally continues. The Western Corn Belt remains dry for the next week, with some mild showers expected in the three main Eastern Corn Belt States.
Weekly Export Sales data showed 331,380 MT of old crop corn sold during the week that ended on July 18. That was on the lower end of the 200,000 to 700,000 MT estimates and 15-week low. Sales for 2024/25 totaled 745,193 MT, which ended up besting the trade thoughts of 100,000 to 600,000 MT and was a marketing year high. Japan was the top buyer of both old and new crop, totaling 370,400 MT in total, as Mexico came in second for both and totaling 355,800 MT.
Sep 24 Corn is at $4.06 1/4, up 2 1/2 cents,
Nearby Cash is at $3.99 3/8, up 2 1/2 cents,
Dec 24 Corn is at $4.21 1/2, up 3 1/2 cents,
Mar 25 Corn is at $4.36 1/4, up 4 cents,
New Crop Cash is at $3.84 5/8, up 2 3/4 cents,
On the date of publication, Alan Brugler 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.
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