Corn Futures Rise as US Ending Stocks Cut Surprises Markets

Corn futures are experiencing a rally on Thursday, supported by a decrease in the U.S. carryout number. By midday, futures have increased between 2 to 6 cents. The front month CmdtyView national average Cash Corn price has risen by 5 3/4 cents to $4.51 1/4.

Recent Export Sales Data

The latest export sales data revealed that 785,583 metric tons (MT) of corn were sold during the week ending April 3. This figure is below expectations, which ranged from 0.7 to 1.3 million MT for old crop corn sales. For the 2025/26 marketing year, sales were at 236,200 MT, compared to estimates of 0 to 150,000 MT.

USDA WASDE Report Insights

The USDA’s monthly WASDE report, released this morning, indicated a significant 75 million bushel reduction in U.S. ending stocks, now estimated at 1.465 billion bushels. This adjustment included a 100 million bushel increase in export figures, while feed and residual projections were reduced by 25 million bushels.

South American Crop Updates

In terms of South American production, current estimates for Argentina remain at 50 million metric tons (MMT), while Brazil’s estimate stands at 126 MMT. Notably, world ending stocks have decreased by 1.29 MMT to 287.65 MMT. CONAB data released earlier today showed a larger Brazilian corn crop estimate of 124.75 MMT, up by 1.98 MMT, primarily due to an increase in the second crop. Additionally, the Rosario Grains exchange has raised Argentina’s corn crop estimate by 4 MMT to 48.5 MMT.

Current Corn Prices

May 25 Corn is trading at $4.80, up 6 cents.

Nearby Cash is at $4.51 1/4, up 5 3/4 cents.

July 25 Corn is priced at $4.85 1/4, an increase of 4 3/4 cents.

December 25 Corn is at $4.53 1/4, up 2 1/2 cents.

New Crop Cash is at $4.17 1/2, also increasing by 2 1/2 cents.

On the date of publication, Austin Schroeder did not hold (either directly or indirectly) any positions in the securities mentioned in this article. All information and data presented here is for informational purposes only. For further details, please view the Barchart Disclosure Policy
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