Corn price action is down 3 to 4 cents so far on Friday. Futures closed out the Thursday session with contracts 3 ¾ to 6 ½ cents higher across the board. Futures were closing in on the highs set on last week’s spike. Open interest showed new buying, up 11,257 contracts. The CmdtyView national average Cash Corn price was up 6 3/4 cents to $4.27 ¾.
Export sales data from this morning showed 1.17 MMT of old crop corn sold in the week ending on 3/12. That was down 13.4% from last week and 11.7% below the same week last year. Mexico was the top buyer of 287,200 MT, with 194,900 MT to Japan and 142,300 MT to Spain. New crop business was at just 12,000 MT, all to Japan.
International Grains Council data from this morning showed a total of 1 MMT of corn added to their balance sheet for ending stocks to 306 MMT. That came as production was up 7 MMT, with use up 4 MMT. Stocks for 2026/27 are seen at 294 MMT, as production is seen down 13 MMT yr/yr and use up 13 MMT.
The Buenos Aires Grain Exchange estimates the Argentina corn harvest at 13% complete.
May 26 Corn closed at $4.69 3/4, up 6 1/2 cents, currently down 3 cents
Nearby Cash was $4.27 3/4, up 6 3/4 cents,
Jul 26 Corn closed at $4.80, up 5 1/2 cents, currently down 3 1/4 cents
Dec 26 Corn closed at $4.94 1/2, up 4 3/4 cents, currently down 3 1/2 cents
New Crop Cash was $4.52 1/2, up 5 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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