Corn is in rally mode, taking back the Thursday losses, with contracts up 9 to 10 cents. The CmdtyView national average Cash Corn price is up 9 3/4 cents at $4.28.
Continued spillover support from a wheat-led rally on rising Black Sea tensions has helped to extend corn’s bounce into the weekend.
Export Sales data has old crop corn sales at 87.503 MMT, which is 104% of the USDA number and ahead of the last few years’ pace. Accumulated shipments are 80.066 MMT, or 95% of the USDA export projection. New crop corn sales are now down 23.5% below the same period last year at 10.575 MMT.
Sep 26 Corn is at $4.57, up 9 cents,
Nearby Cash is at $4.28, up 9 3/4 cents,
Dec 26 Corn is at $4.81 1/4, up 9 1/4 cents,
Mar 27 Corn is at $4.97 1/4, up 9 1/2 cents,
New Crop Cash is at $4.32 1/2, up 9 1/2 cents,
Austin Schroeder
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