Corn trade is showing fractionally lower trade to start Friday. Futures pushed higher into the Thursday close with contracts up 5 to 6 cents in the day. Preliminary open interest was up 10,767 contracts on Thursday, mainly in December and March. The CmdtyView national average Cash Corn price was up 5 ½ cents at $3.78 1/4. The harvest price for crop insurance will be found this month via the average December corn close during October. The average of the first two days is $4.19, vs. the spring price at $4.70.
Harvest may be slowed in the ECB this next week due to some light rainfall expected, with parts of NE, IA, and the Dakotas seeing some preip as well.
S&P Global slashed their estimate for the US corn yield to 185.5 bpa, a 3.6 bpa reduction from last month, with production estimated at 16.707 bbu.
Dec 25 Corn closed at $4.21 3/4, up 5 1/4 cents, currently down 1/4 cent
Nearby Cash was $3.78 1/4, up 5 1/2 cents,
Mar 26 Corn closed at $4.38, up 5 1/4 cents, currently down 1/2 cent
May 26 Corn closed at $4.47 3/4, up 5 cents, currently down 1/2 cent
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.
