Corn Showing Higher Friday AM Trade
Corn prices are trading 1 to 3 cents higher so far on the Friday session. Futures ended the Thursday session with contracts mostly steady to 2 ¾ cents higher, as nearby December was down ¾ cent on the day. The national average Cash Corn price from cmdtyView was down 1 1/4 cents at $3.78 1/2 per bu.
The average close for December corn futures throughout October was $4.16, which is the fall crop insurance price. That is 50 cents below the February base insurance price.
Export Sales data showed 2.341 MMT of corn bookings for 2024/25 in the week that ended on October 24. That was a drop of 35% from the previous week, but the second largest total for the marketing year and in the middle of the 1.8 to 3.5 MMT estimates. Unknown destinations was the top buyer of 771,300 MT, with 596,000 MT sold to Mexico and Japan buying 541,200 MT.
Dec 24 Corn closed at $4.10 3/4, down 3/4 cent, currently up 1 3/4 cents
Nearby Cash was $3.78 1/2, down 1 1/4 cents,
Mar 25 Corn closed at $4.26, up 1/2 cent, currently up 2 1/4 cents
May 25 Corn closed at $4.34 1/2, up 3/4 cent, currently up 2 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.
