Corn futures are trying to creep back higher, as Thursday trade saw things close with 5 to 6 cent gains. Spill over support from double digit gains in wheat and soybeans, as well as $3.25/barrel gains in crude oil. The CmdtyView national average Cash Corn price was up 5 cents at $3.87 1/4.
The average December close so far in October, now with just 6 trade days remaining, is $4.19. That compares to last year’s harvest price for crop insurance at $4.17 but is 51 cents below the February price.
USDA again delayed the weekly Export Sales report due to the ongoing shutdown, as traders are still estimating a total of 0.8-2 MMT of corn was sold in the week ending on 10/16.
International Grains Council data showed world corn production for 2025/26 steady this month, with consumption up 2 MMT and stocks increasing 5 MMT to 299 MMT on increased 2024/25 stocks (+7 MMT).
Dec 25 Corn closed at $4.28, up 5 cents,
Nearby Cash was $3.87 1/4, up 5 cents,
Mar 26 Corn closed at $4.41 1/4, up 5 1/2 cents,
May 26 Corn closed at $4.49 1/4, up 5 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. This article was originally published on Barchart.com
