Corn futures are trading with 1 to 2 cent losses across most contracts on Thursday, as traders square up ahead of Friday’s USDA reports. The national average Cash Corn price from cmdtyView is down 1 ¾ cents at $3.86 1/2 per bu.
Corn export sales during the week of October 3 totaled 1.22 MMT for 2024/25. That was in the middle of the trade estimates, though it was a drop from the previous week and well above the same week last year. Unknown destinations purchased 371,200 MT, with 329,700 MT sold to Mexico, and another 248,900 MT to Columbia.
A Bloomberg survey of traders shows corn yield expected at 183.5 bushel per acre ahead of Friday’s Crop Production report, which would be slightly lower than the 183.6 bpa in September. That would peg production at 15.73 billion bushels, down 13 mbu from last month. US ending stocks are pegged at 1.988 billion bushels, which would be down 69 mbu from last month, mainly due to the smaller 23/24 carryover.
Dec 24 Corn is at $4.19 1/4, down 1 3/4 cents,
Nearby Cash is at $3.86 1/2, down 1 3/4 cents,
Mar 25 Corn is at $4.37, down 1 cent,
May 25 Corn is at $4.46, down 1 1/4 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.
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