Corn futures are experiencing gains of 5 to 7 cents on Thursday, with the CmdtyView national average cash corn price rising 6¼ cents to $4.26¼. Export sales data revealed that 1.17 million metric tons (MMT) of old crop corn were sold in the week ending March 12, which is 13.4% lower than the previous week and 11.7% below the same week last year, placing it within the estimate range of 0.6-1.8 MMT.
The International Grains Council’s latest report indicates that global corn ending stocks have increased by 1 MMT, totaling 306 MMT, as production rose by 7 MMT and usage increased by 4 MMT. Forecasts for the 2026/27 season predict a drop in production by 13 MMT year-over-year, while usage is expected to rise by 13 MMT.
Current corn prices include May 26 Corn at $4.69¼ (up 6 cents), Nearby Cash at $4.26¼ (up 6¼ cents), and July 26 Corn at $4.79¾ (up 5¼ cents).
