Corn Post Jolly Trade on Thursday
Corn futures came out of the Christmas holiday break with contracts up 2 ¾ to 6 ½ cents and hitting the highest prices since June. The national average Cash Corn price from cmdtyView was up 5 cents at $4.24 1/4.
Weekly EIA data has been pushed back to a Friday morning release, with most expecting to see ethanol production hold steady after creeping back above 1.1 million bpd last week. Export Sales data will be out on Friday morning as well, with the trade looking for a total of 1 to 1.6 MMT in 2024/25 bookings for the week that ended on December 19. Another 0-50,000 MT is expected for 2025/26.
Brazilian corn exports are expected to total 4.1 MMT for December, according to ANEC, which is unchanged from their precious estimate.
Mar 25 Corn closed at $4.53 3/4, up 5 1/4 cents,
Nearby Cash was $4.24 1/4, up 5 cents,
May 25 Corn closed at $4.60 1/2, up 5 1/2 cents,
Jul 25 Corn closed at $4.63 3/4, up 6 1/2 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.