Corn futures closed the Thursday session with contracts up 4 to 4 ½ cents across the front months. Bulls were battling back after spillover pressure from the other grains earlier this week. The CmdtyView national average Cash Corn price was up 4 cents to $4.00 3/4.
Export Sales data was updated for the week of 11/27 this morning, with 1.792 MMT sold in that week, on the higher side of trade estimates of between 1-2 MMT of corn sales. That was a 3-week low but still 3.5% above the same week last year.
Export sale commitments were 29.7% larger than the same period last year at 44.35 MMT, or 1.746 billion bushels. That is a record buying pace for corn exports.
Mar 26 Corn closed at $4.44 1/2, up 4 cents,
Nearby Cash was $4.00 3/4, up 4 cents,
May 26 Corn closed at $4.52 1/4, up 4 1/2 cents,
Jul 26 Corn closed at $4.58, up 4 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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