Corn futures are experiencing gains, with March prices up 5.75 cents to $4.50 per bushel ahead of Friday’s expiration. The CmdtyView national average cash corn price has risen 3.25 cents to $4.20. Crude oil prices increased by $7.90 on Thursday.
Export Sales data for the week ending March 5 revealed sales of 1.53 million metric tons (MMT) of corn, which is 58.2% higher than the same week last year and aligns with expectations between 0.8-2.2 MMT. New crop sales were markedly lower at 500,000 MT. Additionally, January shipped corn reached a record 6.61 MMT (260.1 million bushels), with distiller’s shipments at their highest in four years at 1.01 MMT.
