Corn futures are experiencing a surge on Thursday, with front months rising by 4 to 5 cents, while December’s new crop prices remain steady. The CmdtyView national average Cash Corn price has increased by 5 1/2 cents, now sitting at $4.50 1/4.

Support from a rebound in the crude oil market and a weakening dollar index is contributing to this upward movement in corn prices.

Export Sales Data Highlights

The Export Sales report released this morning revealed sales of 1.15 MMT of corn for the 2024/25 crop year during the week ending April 17. This figure falls within the predicted range of 0.8 to 1.3 MMT but represents a decline of 26.2% from the previous week. Japan led the purchases with 629,200 MT, followed by South Korea at 140,600 MT and Mexico at 136,400 MT. Notably, no new crop sales were recorded.

Current Corn Prices

May 25 Corn: at $4.77 1/4, up 5 1/4 cents
Nearby Cash: at $4.50 1/4, up 5 1/2 cents
Jul 25 Corn: at $4.83 1/2, up 4 1/4 cents
Dec 25 Corn: at $4.54 1/2, unchanged
New Crop Cash: at $4.18 1/2, up 1/4 cent

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

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