The corn market is showing 2 to 3 cent gains across most contracts on Friday morning. Corn futures continued to rally on Thursday after the USDA data released, with front months leading the way with 7 to 9 cent gains. New crop was up 3 to 4 cents. Preliminary open interest fell 83,894 contracts on Thursday. The front month CmdtyView national average Cash Corn price was up 9 1/4 cent at $4.55 3/4.
Export Sales data showed 785,583 MT of corn sold in the week ending on April 3, a 13-week low for corn sales but still within the range of estimates. South Korea was the largest buyer of 204,200 MT, with Colombia un for 196,700 MT, and Japan purchasing 180,800 MT. Sales for the 2025/26 marketing year were tailed at 236,200 MT, vs. estimates of 0-150,00 MT. Much of that was sold to Mexico, at 226,200 MT, with the rest sold to Japan.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.
USDA’s monthly WASDE report indicated showed a large 75 mbu cut to the US ending stocks figure to 1.465 bbu. That came as the export figure was raised by 100 mbu, with feed and residual trimmed by 25 mbu.
South American was left alone, with Argentina at 50 MMT Brazil at 126 MMT. World ending stocks were down 1.29 MMT from last month to 287.65 MMT. CONAB data showed a 1.98 MMT increase to the Brazilian corn crop estimate at 124.75 MMT, mainly on an increase to the second crop. The Rosario Grains exchange raised their estimate for the Argentina corn crop by 4 MMT to 48.5 MMT later.
May 25 Corn closed at $4.83, up 9 cents, currently up 3 cents
Nearby Cash was $4.55 3/4, up 9 1/4 cents,
Jul 25 Corn closed at $4.88 3/4, up 8 1/4 cents, currently up 3 1/4 cents
Dec 25 Corn closed at $4.54 1/4, up 3 1/2 cents, currently up 2 1/2 cents
New Crop Cash was $4.18 1/4, up 4 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
- July Corn Futures Hit a 2-Week High Today and More Gains Could Be Just Around the Corner
- The Trade War Is on the Front Burner for Grain Markets, But Don’t Miss These 2 Other Key Catalysts This Week
- Grains and Oilseeds in Q1 2025- Where are they Heading in Q2?
- July Hard Red Winter Futures Are Showing Resilience Despite a Broader Grain Market Selloff. 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.
