Corn futures are trading with 5 to 5 ½ cents in the front months on Thursday, with new crop December up 3 cents. The CmdtyView national average Cash Corn price is up 5 cents at $4.01 1/4. Continued strength in soybeans and meal are spilling over to corn.
The average close so far this week for December futures has been $4.56. The average close for February is used for the spring base crop insurance price, with last year at $4.70.
Weekly Export Sales data from this morning showed 1.04 MMT in corn sales in the week of 1/29, on the lower end of estimates of between 0.8-2.1 MMT. That was down 36.8% from the previous week and 29.5% below the same week last year.
Mar 26 Corn is at $4.34 3/4, up 5 1/4 cents,
Nearby Cash is at $4.01 1/4, up 5 cents,
May 26 Corn is at $4.42 1/4, up 5 1/4 cents,
Jul 26 Corn is at $4.48 3/4, up 5 1/2 cents,
