Corn Futures gathered the ending contracts at 3 to 4 cents at Thursday’s meeting. CMDTYVIEW national average new crop cash corn price rose 3 cents to $3.78.
USDA reported that new crops sold 135,000 tons of corn for private export sales (from corn sales originally released by the USDA) this morning for new crop shipments. Another 284,196 tons for unknown destinations, 83,956 tons for 2024/25 and 200,240 tons for 2025/26 were reported.
Export sales data show that a total of 643,060 tons sold in the week ended July 17 was 2024/25 corn. This is much higher than the previous week and nearly double the same week last year. Mexico is the top buyer of 346,200 tons and sold to Japan 72,400 tons. New crop sales were 733,939 tons compared to last week’s 3-week low. The unknown destination is the top buyer of 349,700 tons, and Japan has 171,800 tons.
Another round of tenders by South Korean importers is estimated to have purchased at least 268,000 tons. As mentioned above, some of this may come from the United States.
On September 25, corn closed at $4.01 3/4, up 3 1/4 cents,
Nearby cash was $3.87 3/4, up 2 1/4 cents,
On December 25, corn closed at $4.20 3/4, up 3 1/4 cents,
March 26 corn closes $4.38 1/4, up 3 1/2 cents,
New crop cash was $3.78, up 3 cents.
On the date of publication, Austin Schroeder has no (direct or indirect) position in any of the securities mentioned in this article. All information and data in this article are for informational purposes only. This article was originally published on barchart.com
