As of midday Friday, corn futures are experiencing gains of 5 to 7 cents, following a significant report from the USDA showing corn export bookings at 4.01 million metric tons (MMT) for the week ending January 15, marking the highest levels since March 2021. This figure greatly surpassed analysts’ estimates of 1.9 to 3.1 MMT and is more than double the sales recorded during the same week last year.
The CmdtyView national average cash corn price has risen by 6 3/4 cents to $3.94 1/2. The March 26 futures are up 6 3/4 cents at $4.30 3/4, while futures for May and July are at $4.38 1/2 and $4.44, up 6 1/4 and 5 1/2 cents respectively.
