The corn market is down 1 to 2 cents so far on Monday AM Trade as traders come back from the short Friday session. Volume was limited. Corn finished off the Friday session with contracts anywhere from ¾ to 7 ¼ cents higher, led by the nearbys. March was down just 2 ¼ cents last week, with Friday’s rebound minimizing the damage. On the month, March was up 7 cents. There were another 111 deliveries issued against December corn futures, all stopped by an R.J.O’Brien customer. The national average Cash Corn price from cmdtyView was up 15 cents at $4.07 1/2 per bu.
Export Sales data showed a total of 1.06 MMT in the week that ended on November 21, which was on the lower end of 0.8 and 2 MMT estimates for 2024/25 corn bookings and a 9-week low. Mexico was the buyer of 405,200 MT, with South Korea purchasing 134,100 MT. Another 67,200 MT was sold for 2025/26 to Mexico.
AgroConsult estimates the Brazilian corn crop at 132.7 MT for 2024/25, with the second crop at 107.3 MMT of that total. Brazil’s first corn crop is estimated at 94% planted in the Center-South region as of Thursday.
Dec 24 Corn closed at $4.23, up 7 1/4 cents, currently down 1 cent
Nearby Cash was $4.07 1/2, up 15 cents,
Mar 25 Corn closed at $4.33, up 5 cents, currently down 1 1/2 cents
May 25 Corn closed at $4.39 3/4, up 4 1/2 cents, currently down 1 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. For more information please view the Barchart Disclosure Policy here.