Corn futures are trading with contracts up 5 to 7 ¼ cents across most contracts on Friday. The CmdtyView national average Cash Corn price is higher on the day to $4.41 ¾.
USDA reported a private export sale of 148,240 MT of corn to unknown destination this morning, with 78,240 MT for old crop and 70,000MT for new crop.
A large portion of the Corn Belt should be able to get some crop in the ground over the next 5 days. Day 6 and 7 of NOAA’s 7-day QPF shows 1 to 1.5 inches of rain expected in much of MO and the ECB.
Export Sales data has corn export commitments totaling 75.7 MMT as of April 23, a 29% increase from the same time last year. That is 90% of USDA’s export projection and behind the 93% average.
The US House of Representatives passed its version of the farm bill on Thursday without language that would allow E15 sales year around. The bill now moves onto the senate, with any E15 legislation pushed back to a separate vote sometime in May.
May 26 Corn is at $4.70 1/2, up 5 3/4 cents,
Nearby Cash is at $4.41 3/4, up 9 cents,
Jul 26 Corn is at $4.82, up 7 1/4 cents,
Dec 26 Corn is at $5.00 3/4, up 6 1/2 cents,
New Crop Cash is at $4.57, up 6 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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