Corn futures are trying to creep back higher, as Thursday trade saw things close with 5 to 6 cent gains. Spill over support from double digit gains in wheat and soybeans, as well as $3.25/barrel gains in crude oil. The CmdtyView national average Cash Corn price was up 5 cents at $3.87 1/4.
The average December close so far in October, now with just 6 trade days remaining, is $4.19. That compares to last year’s harvest price for crop insurance at $4.17 but is 51 cents below the February price.
USDA again delayed the weekly Export Sales report due to the ongoing shutdown, as traders are still estimating a total of 0.8-2 MMT of corn was sold in the week ending on 10/16.
International Grains Council data showed world corn production for 2025/26 steady this month, with consumption up 2 MMT and stocks increasing 5 MMT to 299 MMT on increased 2024/25 stocks (+7 MMT).
Dec 25 Corn closed at $4.28, up 5 cents,
Nearby Cash was $3.87 1/4, up 5 cents,
Mar 26 Corn closed at $4.41 1/4, up 5 1/2 cents,
May 26 Corn closed at $4.49 1/4, up 5 3/4 cents,
