Corn Market Shows Resilience Amid Positive Export Trends

The corn market rebounded from its earlier losses, with contracts increasing by 1 to 3 cents on Thursday. The national average Cash Corn price reported by cmdtyView rose by 2 ¼ cents, now standing at $4.61 1/2.

Export Sales data revealed corn bookings for 2024/25 at 1.477 MMT, which aligns with the upper end of the forecast range of 0.85 to 1.5 MMT for the week ending on January 30. This figure represents an 8.7% increase compared to the previous week and is 21.1% higher than the same week last year. Mexico led the purchases with 251,700 MT, followed by Japan with 214,000 MT and South Korea at 210,000 MT. Additionally, sales for 2025/26 reached 49,978 MT, falling within the 0-100,000 MT trade expectations.

Following the resolution of the trade dispute panel in December, Mexico has lifted its restrictions on GMO corn imports for human, animal, and industrial uses.

According to the Buenos Aires Grains Exchanges, Argentina’s corn crop is now estimated to be 25% excellent and 49% rated as normal, reflecting decreases of 3% and 1% respectively from last week. The percentage of poor-rated crops increased by 4%, now totaling 26%.

Mar 25 Corn closed at $4.95 1/4, marking a gain of 2 cents.

Nearby Cash reached $4.61 3/4, up 2 1/4 cents.

May 25 Corn settled at $5.07 1/2, an increase of 2 3/4 cents.

Dec 25 Corn closed at $4.69 3/4, rising by 1 1/4 cents.

New Crop Cash was at $4.38, up by 3/4 cent.

On the date of publication, Austin Schroeder did not have any positions, directly or indirectly, in any securities mentioned in this article. All information and data provided are for informational purposes only. For more details, please refer to the Barchart Disclosure Policy
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