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Corn Seeing Steady Trade on ThursdayCorn futures are trading steady to a penny lower across most contracts at Thursday’s midday. Preliminary open interest showed net new selling interest, up a total of 12,811 across most contracts. The national average Cash Corn price from cmdtyView is down 1 3/4 cents at $3.79 per bu. The average close for December corn futures so far in October has been $4.16. That is 50 cents below the February base insurance price. Export Sales data showed 2.341 MMT of corn bookings for 2024/25 in the week that ended on October 24. That was a drop of 35% from the previous week, but the second largest total for the marketing year and in the middle of the 1.8 to 3.5 MMT estimates. Unknown destinations was the top buyer of 771,300 MT, with 596,000 MT sold to Mexico and Japan buying 541,200 MT. Dec 24 Corn is at $4.10 1/2, down 1 cent, Nearby Cash is at $3.79, down 1 3/4 cents, Mar 25 Corn is at $4.25 1/2, unch, May 25 Corn is at $4.33 3/4, unch, 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. |
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