The corn market posted steady to 1 ¼ cent gains across most contracts on Friday, as December was up 8 ¼ cents on the week. The CmdtyView national average Cash Corn price was up 1/4 cent to $3.91 1/4. Spillover support was noted from strength in the wheat and soybeans.
The average close for December corn futures w at $4.22, should be the harvest price for crop insurance. That is 6 cents above last year’s harvest and 48 cents below the spring price.
Ukraine corn exports totaled just 0.8 MMT in October, which was a large drop from the 1.73 MMT last year according to economic minister. The Argentina corn crop was pegged at 35% planted, according to the Buenos Aires Grain Exchange.
Dec 25 Corn closed at $4.31 1/2, up 1 1/4 cents,
Nearby Cash was $3.91 1/4, up 1/4 cent,
Mar 26 Corn closed at $4.44, up 1/4 cent,
May 26 Corn closed at $4.52 1/4, unch,
