Corn Starting USDA Report Day with Steady Trade
Corn prices are holding steady early on Friday, morning, as traders square up ahead of the monthly USDA report. Futures saw a pullback on Thursday, with contracts down ¼ to 2 cents across the board at the close. Open interest was up 8,017 contracts on Thursday, mainly in the March and July contracts. The CmdtyView national average Cash Corn price was down 1 1/2 cents at $4.62 3/4.
USDA’s Export Sales report showed 769,468 MT of corn sales in the week ending on October 1. That was back up from last week by 43.6%, but 65.9% below the same week last year. Mexico was the top buyer of 508,800 MT, with Colombia purchasing 196,600 MT, and 96,800 MT to Japan.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.
The harvest window is a little shorter in the east, with upwards of an inch in parts of IN and OH in the next few days from the remnants of hurricane Isaias. Much of the rest of the country is dry until next Wednesday/Thursday, with a pocket of 1-2 inches in IA, MO, MN, WI, and the Dakotas.
Crop Production data will be updated on Friday, with traders surveyed by Bloomberg looking for yield to be trimmed by 0.7 bpa to 177.8 bpa, as production is seen 67 mbu lower at 15.733 bbu. WASDE data is expected to show stocks up 126 mbu to 1.693 bbu, mainly due to the 173 mbu increase expected from the 2025/26 stocks total that NASS reported at the end of September.
Dec 26 Corn closed at $5.00 1/4, down 1 3/4 cents, currently unch
Nearby Cash was $4.62 3/4, down 1 1/2 cents, ]
Mar 27 Corn closed at $5.15 1/4, down 1 3/4 cents, currently unch
May 27 Corn closed at $5.22 1/4, down 2 cents, currently unch
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.
