The corn market is trading through election day with gains of 1 to 2 ½ cents so far, as export business continues to come in. The national average Cash Corn price from cmdtyView is up 2 1/2 cents at $3.90 3/4 per bu.
USDA reported a private export sale of 124,000 MT of corn for 2024/25 sold to unknown destinations this morning.
Census data showed corn exports at 4.279 MMT (168.44 mbu) during September, which was the largest in 6 years for the month. That was also 35.61% above last year but down 17.02% from last month. Shipments of distillers were down 1.79% from 2023 at 1.012 MMT during September. Ethanol exports were a monthly record 148.49 million gallons during September and 5.17% above last month. Sorghum shipments were 473,627 MT in September, a 9-year high for the month.
NASS Crop Progress data showed 91% of the US corn harvest complete as of November 3. That compares to the 75% 5-year average pace.
A StoneX estimate for the US corn crop pegs yield at 183.7 bpa, down from the 184 bpa in their previous projection.
Dec 24 Corn is at $4.18 3/4, up 2 1/4 cents,
Nearby Cash is at $3.90 3/4, up 2 1/2 cents,
Mar 25 Corn is at $4.32, up 2 cents,
May 25 Corn is at $4.38 3/4, up 1 1/2 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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