Corn Market Sees Mild Gains as Exports Fall Short

Corn Contracts Experience Pre-Weekend Rally

The corn market enjoyed a slight increase on Friday, with contracts posting gains of 2 ½ to 5 cents. However, December corn prices have dropped 1.62% since last Friday. The national average Cash Corn price reported by cmdtyView rose by 5 ½ cents, reaching $4.00 ¾ per bushel.

Export Sales Report Shows Decline

This morning’s Export Sales data revealed that total corn sales reached 1.315 MMT, marking a five-week low and falling within the 2024/25 estimates range of 1.25 to 2.6 MMT. Among buyers, unknown destinations acquired the most at 603,500 MT, while Mexico purchased 167,600 MT.

CFTC Reports Significant Changes in Speculative Interests

According to CFTC data from the week of November 12, a large number of speculators covered their corn shorts, resulting in a managed money net long of 109,989 contracts. This increase of 87,946 contracts included 71,311 where shorts exited their positions. In contrast, commercials raised their net short positions by 77,688 contracts to a total of 320,637 contracts, the highest net short for commercials since February 2023.

Pricing Overview for December and Nearby Contracts

December 2024 corn closed at $4.24, marking a 5-cent increase. Nearby cash corn stood at $4.00 ¾, up 5 ½ cents. For March 2025 corn, the close was at $4.35 ¼, reflecting an increase of 4 ½ cents, while May 2025 corn ended at $4.42 ¾, also up 4 ½ cents.

On the date of publication, Austin Schroeder did not hold (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are solely for informational purposes. For more details, please view the Barchart Disclosure Policy here.

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.