Corn futures are up 3 to 4 cents across most contracts on Thursday. The CmdtyView national average Cash Corn price is up 3 3/4 cent at $3.76 1/4. General commodity strength from the late Wednesday gains following a post by President Trump is a factor on Thursday.
Harvest may be slowed in the ECB this next week, with parts of NE, IA, and the Dakotas seeing some preip.
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The harvest price for crop insurance will be found via the average December corn close during October. The first close on Wednesday was at $4.16 ½.
Export sales data was not released this morning due to the government shutdown. Traders were looking for between 1.2 an 2.2 MMT of corn sold in the week ending on September 25.
On Wednesday, StoneX lowered their estimate for the US corn yield to 185.9 bpa, a 1 bpa reduction from last month, with production estimated at 16.737 bbu.
Dec 25 Corn is at $4.20, up 3 1/2 cents,
Nearby Cash is at $3.76 1/4, up 3 3/4 cents,
Mar 26 Corn is at $4.36, up 3 1/4 cents,
May 26 Corn is at $4.46, up 3 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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- Corn, Soybean Markets See ‘Sell the Rumor, Buy the Fact’ on USDA Data
- Should You Buy the Dip in December Corn?
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