Corn is getting spillover support from a sharp rally in the wheat market on Friday, as futures are up 3 cents in the front months and down fractionally in the new crop. CmdtyView’s national average Cash Corn price is up 3 cents at $4.63 3/4. The markets will be closed on Monday for President’s Day, with a normal open for the Tuesday session.
USDA reported a private export sale of 100,000 MT of 2024/25 corn to Columbia this morning.
Export Sales data now has the 2024/25 total commitments for the marketing year to 46.416 MMT, which is 75% of USDA’s forecast, which is ahead of the 72% average pace.
Mar 25 Corn is at $4.96 1/2, up 3 cents,
Nearby Cash is at $4.63 3/4, up 3 cents,
May 25 Corn is at $5.09, up 3 cents,
Dec 25 Corn is at $4.72 1/2, down 1/4 cent,
New Crop Cash is at $4.41 3/4, unch,
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.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
