Corn futures are pulling off the early session lows with contracts up 1 to 2 cents at midday. The CmdtyView national average Cash Corn price is down 1 3/4 cents to $3.93 3/4.
Following the meeting between President Trump and President Xi of China, President Trump pisted that China is set to purchase massive amounts of sorghum, though no specifics were given on total.
With just 2 days remaining in the harvest price discovery for crop insurance, December corn has an average close at $4.21 during October. That is up a nickel from last year and down 49 cents from the spring price.
USDA is still closed due to the shutdown, as traders are looking for between 1.1 to 2.1 MMT corn sold in the week ending on October 23.
Dec 25 Corn is at $4.32 1/4, down 1 3/4 cents,
Nearby Cash is at $3.93 3/4, down 1 3/4 cents,
Mar 26 Corn is at $4.45, down 1 3/4 cents,
May 26 Corn is at $4.53 1/4, down 1 3/4 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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