Corn Posting Midday Thursday Gains
Corn futures are trading with 5 to 5 ½ cents in the front months on Thursday, with new crop December up 3 cents. The CmdtyView national average Cash Corn price is up 5 cents at $4.01 1/4. Continued strength in soybeans and meal are spilling over to corn.
The average close so far this week for December futures has been $4.56. The average close for February is used for the spring base crop insurance price, with last year at $4.70.
Weekly Export Sales data from this morning showed 1.04 MMT in corn sales in the week of 1/29, on the lower end of estimates of between 0.8-2.1 MMT. That was down 36.8% from the previous week and 29.5% below the same week last year.
Mar 26 Corn is at $4.34 3/4, up 5 1/4 cents,
Nearby Cash is at $4.01 1/4, up 5 cents,
May 26 Corn is at $4.42 1/4, up 5 1/4 cents,
Jul 26 Corn is at $4.48 3/4, up 5 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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