Corn futures are positioning higher on Thursday with contracts 1 to 2 cents in the green. The national average Cash Corn price from cmdtyView is up 1 1/2 cents at $4.26 3/4. The markets will be closing at 12:15 pm CST.
The weekly Export Sales report is delayed until Friday as the government offices are closed today for a National Day of Mourning for President Carter’s funeral. It is expected to show 0.7 to 1.4 MMT of 2024/25 corn bookings in the week ending on January 2. Sales for 2025/26 are estimated at 0 to 100,000 MT.
USDA will release their annual Crop Production report on Friday morning, with analysts surveyed by Reuters looking for a 0.4 bpa cut to yield at 182.7 bpa. Production is seen down 48 mbu to 15.095 bbu, as harvested acres are expected to see a slight reduction. Grain Stocks data will also be released with traders looking for December 1 corn stocks at 12.147 billion bushels, down 24 mbu from last year if realized. The WASDE report is expected to peg the US ending stocks total at 1.675 bbu.
South Korean importers purchased a total of 65,000 MT of corn overnight, with US or South American origin.
Mar 25 Corn is at $4.55 3/4, up 1 3/4 cents,
Nearby Cash is at $4.26 3/4, up 1 1/2 cents,
May 25 Corn is at $4.64, up 1 1/2 cents,
Jul 25 Corn is at $4.67, up 1 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. More news from Barchart
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