Corn Posting Midday Gains on Thursday
Corn futures are showing a round of strength on Thursday, with front months up 4 to 5 cents and new crop December steady. The nearby CmdtyView national average Cash Corn price is up 5 1/2 cents at $4.50 1/4.
Outside support from a bounce higher in the crude oil market and a weaker dollar index is supportive.
Export Sales data from this morning showed 1.15 MMT of 2024/25 corn sold in the week ending on April 17, on the higher side of the 0.8 to 1.3 MMT estimates. That was back down 26.2% from the week prior. Japan was the top buyer in that week of 629,200 MT, with 140,600 MT to South Korea and Mexico in for 136,400 MT. New crop sales came in at 0 MT.
May 25 Corn is at $4.77 1/4, up 5 1/4 cents,
Nearby Cash is at $4.50 1/4, up 5 1/2 cents,
Jul 25 Corn is at $4.83 1/2, up 4 1/4 cents,
Dec 25 Corn is at $4.54 1/2, unch,
New Crop Cash is at $4.18 1/2, up 1/4 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.