Corn Pushes Higher into the Close, with Help from Export Business
Corn futures rounded out the Thursday session with contracts up 3 to 4 cents at the close. The CmdtyView national average new crop Cash Corn price was up 3 cents at $3.78.
USDA reported a private export sale of 135,000 MT of corn sold to South Korea (corrected from China as USDA originally posted) this morning for new crop shipment. Another 284,196 MT was reported for unknown destinations, with 83,956 MT for 2024/25 and 200,240 MT for 2025/26.
Export Sales data showed a total of 643,060 MT of 2024/25 corn sold in the week ending on July 17. That was well above the week prior and nearly double the same week last year. Mexico was the top buyer of 346,200 MT, with 72,400 MT sold to Japan. New crop sales were tallied at 733,939 MT, back up from last week’s 3-week low. Unknown destinations was the top buyer of 349,700 MT, with 171,800 MT to Japan.
Another round of tenders by South Korean importers saw estimated purchases of at least 268,000 MT. Part of that was likely from the US as noted above.
Sep 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,
Dec 25 Corn closed at $4.20 3/4, up 3 1/4 cents,
Mar 26 Corn closed at $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 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.