Corn Mixed to Start Friday Trade
Corn prices are trading in either side of unchanged early on Friday, with contracts within a penny of unchanged. Futures closed out Thursday trade with contracts up 2 to 5 ¼ cents, bouncing from recent weakness. Preliminary open interest was down 26,893 contracts on Thursday, as 35,687 contracts were out of the May with options expiring today. The nearby CmdtyView national average Cash Corn price was up 5 1/2 cents at $4.50 1/2.
The CBOT is raising daily price limits for corn futures by a nickel to 35 cents, effective on May 1.
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Export Sales data from Thursday morning showed 1.15 MMT of 2024/25 corn sold in the week ending on April 17, on the higher side of the 0.8 to 1.3 MMT estimates. That was back down 26.2% from the week prior. Japan was the top buyer in that week of 629,200 MT, with 140,600 MT to South Korea and Mexico in for 136,400 MT. New crop sales came in at 0 MT.
May 25 Corn closed at $4.77 1/4, up 5 1/4 cents, currently up 3/4 cent
Nearby Cash was $4.50 1/2, up 5 1/2 cents,
Jul 25 Corn closed at $4.84, up 4 3/4 cents, currently up 1 cent
Dec 25 Corn closed at $4.56 1/2, up 2 cents, currently down 1 cent
New Crop Cash was $4.20 1/8, up 2 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.
