Corn Market Rises as USDA Reports Export Sales

The corn market has experienced a modest increase, with prices rising 1 to 3 cents on Tuesday’s midday trading. The CmdtyView national average Cash Corn price has climbed 3 cents to reach $4.39 1/2.

In notable news, the USDA reported a private export sale of 240,000 metric tons of corn to Spain for the 2024/25 marketing year this morning.

The first official Crop Progress report released by the National Agricultural Statistics Service (NASS) indicated that as of April 6, 2% of the US corn crop has been planted. This figure aligns with the five-year average but is slightly behind the same week in 2024.

Looking ahead, the USDA is scheduled to publish its monthly WASDE report on Thursday morning. Traders anticipate a reduction in the US ending stocks projection by an average of 30 million bushels, resulting in an estimate of 1.51 billion bushels. The estimates, however, vary significantly, ranging from 1.405 billion to 1.605 billion bushels.

Current Market Prices

May 25 Corn is priced at $4.67 1/4, marking an increase of 2 3/4 cents.

Nearby Cash stands at $4.39 1/2, up 3 cents.

Jul 25 Corn is trading at $4.73, reflecting an increase of 2 1/4 cents.

Dec 25 Corn is at $4.47, up 1 cent.

New Crop Cash is priced at $4.11 3/4, rising by 1 1/4 cents.

On the date of publication, Austin Schroeder did not have (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 information, please view the Barchart Disclosure Policy
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.