The corn market is rallying across most contracts on Friday, up 6 to 10 cents in most nearbys as we trade through midday. The front month CmdtyView national average Cash Corn price is up 6 cents at $4.61 3/4.
USDA’s monthly WASDE report from Thursday saw a 75 mbu cut to the US ending stocks figure at 1.465 bbu. A weaker US dollar index at the lowest level since 2022 is providing some support.
Export Sales data released on Thursday has the total corn export commitments now at 55.019 MMT. That is 85% of USDA’s new export projection of 2.55 billion bushels, which is behind the 5-year average pace but ahead of the 81% pace from last year. Actual shipments are 56% of that new projection, ahead of the 53% average pace.
May 25 Corn is at $4.89, up 6 cents,
Nearby Cash is at $4.61 3/4, up 6 cents,
Jul 25 Corn is at $4.95 1/4, up 6 1/2 cents,
Dec 25 Corn is at $4.63 1/4, up 9 cents,
New Crop Cash is at $4.28 3/4, up 9 3/4 cents,
