Corn is posting fractional to penny gains so far on Friday morning. Futures got some late session strength on Thursday to close with gains of ½ to 2 cents across the board. The national average Cash Corn price from cmdtyView was up 1 3/4 cents at $4.01 1/2 per bu.
Export Sales data showed 2.766 MMT in 2024/25 corn bookings in the week of 10/31, exceeding the 1.7 to 2.5 MMT estimates. That was the second largest total we’ve seen so far in the marketing year and more than double the same week last year. The largest buyer was Mexico at 1.395 MMT, with 673,500 MT sold to unknown destinations. Sales for 2025/26 were 65,532 MT.
The USDA released their annual 10-year baseline projections on Thursday afternoon, which showed planted acreage for 2025/26 corn projected at 92 million acres (up from 90.7 mac this year).
USDA will release updated Crop Production data today, with an average trade estimate via a Reuters survey of analysts at 183.7 bushel per acre on yield down 0.1 bpa from last month. Production estimates are seen at 15.189 billion bushels. The WASDE report is expected to show corn ending stocks for the US at 1.946 bbu, which would be down 53 mbu from last month’s estimate. World corn carryout is expected to be down 0.82 MMT to 305.7 MMT.
Dec 24 Corn closed at $4.27 1/2, up 1 1/4 cents, currently up 1 cent
Nearby Cash was $4.01 1/2, up 1 3/4 cents,
Mar 25 Corn closed at $4.40 1/2, up 1 1/2 cents, currently up 1/2 cent
May 25 Corn closed at $4.47 3/4, up 2 cents, currently 1/2 cent
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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