Corn futures are in rally back mode to round out the week, as contracts are up 5 to 7 cents across the front months. The CmdtyView national average Cash Corn price is up 6 1/4 cent at $3.63 1/2.
Precip is limited over the next week for much of the Corn Belt, with exception to the central-eastern portion of the Dakotas, MN, northern IA, WI, MI and the extreme northern portion of the ECB.
While Tuesday’s USDA report showed a record yield, mainly using satellite imagery and producer surveys, the market will get a look via boots on the Ground next week with the ProFarmer Crop Tour starting on Monday.
Thursday morning’s Export Sales report took old crop commitments to 70.533 MMT, which is 98% of USDA’s estimate and behind the 103% average. Actual Census data is running ahead of the FAS data. New crop is at 13.825 MMT, which is the second largest on record for this week.
Sep 25 Corn is at $3.81 1/2, up 6 1/2 cents,
Nearby Cash is at $3.63 1/2, up 6 1/4 cents,
Dec 25 Corn is at $4.03 1/2, up 6 1/4 cents,
Mar 26 Corn is at $4.20 3/4, up 6 3/4 cents,
New Crop Cash is at $3.59 1/2, up 5 3/4 cents,
