Corn Futures Surge to New Highs Post-Holiday

Market Sees Significant Gains and Promising Exports Ahead

Corn futures kicked off the week after the Christmas holiday break with impressive gains, rising between 2 ¾ to 6 ½ cents. This marks the highest prices seen since June. The national average cash corn price reported by cmdtyView climbed 5 cents, reaching $4.24 1/4.

The weekly EIA data release has been moved to Friday morning. Analysts expect ethanol production to remain steady, having moved back above 1.1 million barrels per day last week. Additionally, export sales data will be published on the same morning. The market anticipates between 1 to 1.6 million metric tons (MMT) in 2024/25 bookings for the week ending December 19. For the 2025/26 period, another 0-50,000 MT is expected.

Turning to Brazil, corn exports are forecasted to hit 4.1 MMT for December, according to ANEC. This figure remains unchanged from their previous estimates.

Mar 25 Corn closed at $4.53 3/4, gaining 5 1/4 cents.

Nearby Cash was $4.24 1/4, up by 5 cents.

May 25 Corn finished at $4.60 1/2, increasing by 5 1/2 cents.

Jul 25 Corn capped off the day at $4.63 3/4, a rise of 6 1/2 cents.

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

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.