Corn Holding Fractional Losses on Friday
Corn futures are trading with contracts fractionally lower so far on Friday. The CmdtyView national average Cash Corn price is down 1/2 cent at $3.68 1/4.
USDA reported a couple private export sales of 119,769 MT of corn to Costa Rica and 140,452 MT to Spain this morning all for 2025/26.
Export Sales data has old crop US corn export commitments at 70.505 MMT, which is 98% of the USDA estimate and lags the 103% average sales pace. New crop business has reached 16.69 MMT, which is more than double the same week last year and within 2 MMT of the 2021/22 marketing year, which is the current record buying pace for the net marketing year.
The final day of the annual ProFarmer showed Iowa yield estimated at 198.43 bpa, up from last year’s total of 192.79 bpa and above the 3-year average of 186.47 bpa. USDA is looking for an 11 bpa increase yr/yr. Yield in Minnesota was a record 202.86 bpa, well above last year (164.9) and the three-year average (178.88 bpa).
The International Grains Council estimates the world corn production total at 1.299 billion MT, a 23 MMT increase from last month. World corn stocks were up 16 MMT to 294 MMT, as demand was increased by 13 MMT.
Sep 25 Corn is at $3.86 3/4, down 1/2 cent,
Nearby Cash is at $3.68 1/4, down 1/2 cent,
Dec 25 Corn is at $4.11 1/4, down 1/2 cent,
Mar 26 Corn is at $4.29, down 3/4 cent,
New Crop Cash is at $3.67 1/1, down 1/2 cent,
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.