Corn futures are trading with 3 to 4 cent gains across the nearbys on Thursday. Preliminary open interest rose 19,894 contracts, indicating new buying. The national average Cash Corn price from cmdtyView is up 3 1/2 cents at $3.89 1/2 per bu. The average close for December corn futures so far in October is $4.17. That is 49 cents below the February base insurance price.
USDA reported another round of private export sales of 227,600 MT of corn to Japan, with 165,000 MT sold to unknown destinations.Â
Export Sales data was released this morning, with 3.602 MMT of 2024/25 corn sold for the week of October 17. That exceeded a Reuters survey of traders looking for a range of 2.2-3.3 MMT, up 61.9% from last year and more than double the same week last year. Mexico was the buyer of 1.68 MMT in that week with unknown destinations buying 1.15 MMT. Â Sales for 2025/26 were 581,183 MT, with most to Mexico and on the low end of the 500,000 to 850,000 MT estimates.
Dec 24 Corn is at $4.22 1/2, up 3 1/2 cents,
Nearby Cash is at $3.89 1/2, up 3 1/2 cents,
Mar 25 Corn is at $4.35 3/4, up 3 3/4 cents,
May 25 Corn is at $4.42 3/4, up 3 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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