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Corn Extending Bounce on Friday AM Trade
Corn futures are trading with contracts up 3 to 4 cents on Friday morning. The corn market took back most of the losses from Wednesday, with contracts closing steady 3 ½ cents higher on Thursday. Preliminary open interest was up 5,002 contracts. The national average Cash Corn price from cmdtyView was up 3 1/4 cents at $4.11 1/4. Export Sales data was released Thursday morning showed a total of 1.175 MMT of 2024/25 corn sold for export, which was in the middle of estimates of 0.8 to 1.6 MMT. That was up 24% from the week prior. There was another 2,540 MT sold for 2025/26. Mexico was the largest buyer of 395,500 MT, with 273,100 MT sold to Japan and 204,800 MT to Columbia. Several South Korean importers purchased a total of 268,000 MT of corn overnight, with at least 65,000 MT to be sourced from the US. Mar 25 Corn closed at $4.40 3/4, up 3 1/2 cents, currently up 3 1/2 cents Nearby Cash was $4.11 1/4, up 3 1/4 cents, May 25 Corn closed at $4.46 1/4, up 2 1/2 cents, currently up 3 1/12 cents Jul 25 Corn closed at $4.49 1/4, up 2 cents, currently up 3 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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