Corn futures closed with gains on Thursday, with September corn up 8 ¾ cents for the week and December rising a dime. The front month CmdtyView national average Cash Corn price increased by 2 1/4 cents to $4.06 3/4. The market will be closed on Friday for Independence Day, resuming normal operations Sunday night.
The USDA reported a private export sale of 156,000 metric tons of corn to unknown destinations for the 2024/25 season. Additionally, the Export Sales report indicated that 532,745 metric tons of old crop corn were booked in the week ending June 26, a marketing year low but 49.2% higher than the same week in 2024. New crop sales reached 940,159 metric tons, the highest for the marketing year, bringing forward sales to 4.5 million metric tons, a 28.6% increase from last year.
Monthly export data revealed 7.29 million metric tons (287 million bushels) of corn exported in May, up 22.14% from last year but down 6.4% from April. Distiller exports were 918,108 metric tons, while ethanol exports reached a record 184.67 million gallons for that month.
