Corn futures are trading with 1 to 4 cent gains in the front months on Friday. March expires at the close, with another 49 deliveries issued overnight. The CmdtyView national average Cash Corn price is up 3 3/4 cents to $4.23 ¾. Crude oil is bouncing off early lows and up $1.19 at midday.
Export Sales data from Thursday brought the marketing year corn export commitments to 66.513 MMT, which is 32% larger than the same period last year. That is 79% of USDA’s export number and near the 80% average pace. Shipments at 41.74 MMT are now 50% of USDA’s number and running ahead of the 43% average pace.
CONAB estimates the Brazilian corn crop at 138.27 MMT, down 0.18 MMT from last month. The first crop was up 0.65 MMT to 26.7 MT, as the second crop number was trimmed by 0.83 MMT to 108.43 MMT.
May 26 Corn is at $4.66 1/4, up 3 3/4 cents,
Nearby Cash is at $4.23 3/4, up 3 3/4 cents,
Jul 26 Corn is at $4.77 1/4, up 3 1/4 cents,
Sep 26 Corn is at $4.78 1/2, up 1 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.
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