Corn Futures Rise Following USDA Report and Export Data

Corn futures saw a continued rally on Thursday, spurred by data released from the USDA. Front month contracts gained between 7 to 9 cents, while new crop prices increased by 3 to 4 cents. The front month CmdtyView national average Cash Corn price rose by 9 1/4 cents, settling at $4.55 3/4.

Export Sales Report Shows Mixed Results

The latest Export Sales data revealed that 785,583 metric tons (MT) of corn were sold in the week ending April 3, marking a 13-week low in sales yet remaining within the expected range. South Korea emerged as the leading importer with 204,200 MT, followed by Colombia with 196,700 MT, and Japan with 180,800 MT. Notably, sales for the 2025/26 marketing year totaled 236,200 MT, contrasting with earlier estimates of 0-150,000 MT. A significant portion was directed to Mexico, accounting for 226,200 MT, while the remainder went to Japan.

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USDA’s WASDE Report Insights

The USDA’s monthly WASDE report released this morning indicated a noteworthy reduction of 75 million bushels (mbu) in the U.S. ending stocks, now projected at 1.465 billion bushels (bbu). This revision follows a 100 mbu increase in the export figure, while the feed and residual category was adjusted downward by 25 mbu.

South American estimates remained unchanged, with Argentina’s production staying at 50 million metric tons (MMT) and Brazil’s at 126 MMT. On a global scale, ending stocks decreased by 1.29 MMT from the previous month, totaling 287.65 MMT. Additionally, CONAB data released today reported a 1.98 MMT increase in Brazil’s corn crop estimate to 124.75 MMT, primarily due to an increase in the second crop. The Rosario Grains Exchange also raised its corn crop estimate for Argentina by 4 MMT, now at 48.5 MMT.

Current Corn Prices

May 25 Corn closed at $4.83, an increase of 9 cents.

Nearby Cash was $4.55 3/4, up 9 1/4 cents.

Jul 25 Corn finished at $4.88 3/4, gaining 8 1/4 cents.

Dec 25 Corn ended at $4.54 1/4, up 3 1/2 cents.

New Crop Cash was reported at $4.18 1/4, reflecting an increase of 4 1/4 cents.

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

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