The corn market is rallying across most contracts on Friday, up 6 to 10 cents in most nearbys as we trade through midday. The front month CmdtyView national average Cash Corn price is up 6 cents at $4.61 3/4.
USDA’s monthly WASDE report from Thursday saw a 75 mbu cut to the US ending stocks figure at 1.465 bbu. A weaker US dollar index at the lowest level since 2022 is providing some support.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.
Export Sales data released on Thursday has the total corn export commitments now at 55.019 MMT. That is 85% of USDA’s new export projection of 2.55 billion bushels, which is behind the 5-year average pace but ahead of the 81% pace from last year. Actual shipments are 56% of that new projection, ahead of the 53% average pace.
May 25 Corn is at $4.89, up 6 cents,
Nearby Cash is at $4.61 3/4, up 6 cents,
Jul 25 Corn is at $4.95 1/4, up 6 1/2 cents,
Dec 25 Corn is at $4.63 1/4, up 9 cents,
New Crop Cash is at $4.28 3/4, up 9 3/4 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.
More news from Barchart
- July Corn Futures Hit a 2-Week High Today and More Gains Could Be Just Around the Corner
- Grains and Oilseeds in Q1 2025- Where are they Heading in Q2?
- Monday’s Grain Price Action Following Key USDA Data Reveals Compelling Clues
- July Corn Futures Are Hinting at Underlying Strength and More Upside Ahead. Here Are the Levels to Watch Before You Buy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
