Corn Popping Higher at Midday, Helped by Better than Expected Export Business
Corn futures are getting some buying on Thursday, after December held the $4 mark on Wednesday. Contracts are up 5 to 6 ¼ cents at midday. The CmdtyView national average Cash Corn price is us 5 3/4 cents at $3.68 1/4.
USDA reported two separate private export sales of 106,680 MT to Mexico and 105,000 MT to Guatemala, both for 2025/26 shipment.
Export Sales data showed 170,428 MT in old crop corn sales, the second lowest for the MY, and below estimates calling for between 200,000 and 400,000 MT during the week of July 31. New crop business blew past the expected 1.3-2.5 MMT, at 3.16 MMT in total. That takes the total sales for 2025/26 to 11.777 MMT, the second highest for the current week on record behind 2021/22 (when China was an active buyer).
Brazil exported a total of 2.434 MMT of corn during July, which was a drop of 31.51% from last year’s total but well above the June total. A slower second crop harvest and soybeans still taking up a large chunk of the vessel lineup were a factor.
Sep 25 Corn is at $3.85 3/4, up 6 cents,
Nearby Cash is at $3.68 1/4, up 5 3/4 cents,
Dec 25 Corn is at $4.07 1/2, up 6 1/4 cents,
Mar 26 Corn is at $4.25 1/4, up 6 cents,
New Crop Cash is at $3.66 3/4, 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.