Corn Holding Gains on Tuesday
The corn market is back up 1 to 3 cents so far on Tuesday’s midday. The CmdtyView national average Cash Corn price is up 3 cents at $4.39 1/2.
USDA reported a private export sale of 240,000 MT of corn for 2024/25 to Spain this morning.
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The first official Crop Progress report from NASS showed the US corn crop was 2% planted as of April 6, in line with the 5-year average and slightly behind the same week in 2024.
The USDA will release their monthly WASDE report on Thursday morning, with traders looking for a cut to the US ending stocks projection by 30 mbu on average at 1.51 bbu. The range of estimates is a relatively wide 1.405 to 1.605 bbu.
May 25 Corn is at $4.67 1/4, up 2 3/4 cents,
Nearby Cash is at $4.39 1/2, up 3 cents,
Jul 25 Corn is at $4.73, up 2 1/4 cents,
Dec 25 Corn is at $4.47, up 1 cent,
New Crop Cash is at $4.11 3/4, 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.
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