Corn futures experienced a rise as trading closed on Thursday, with contracts increasing by 5 to 6 cents throughout the day. The CmdtyView national average Cash Corn price rose by 5 ½ cents, reaching $3.78 1/4. This month, the harvest price for crop insurance will be determined based on the average closing price of December corn during October. The current average for the initial two days stands at $4.19, compared to the spring price of $4.70.
The upcoming week might see a slowdown in harvesting in the Eastern Corn Belt due to anticipated light rainfall, with regions in Nebraska, Iowa, and the Dakotas expected to receive some precipitation.
S&P Global has revised its forecast for the US corn yield down to 185.5 bushels per acre, reflecting a decrease of 3.6 bushels from the previous month, with production anticipated at 16.707 billion bushels.
December 25 Corn closed at $4.21 3/4, marking an increase of 5 1/4 cents.
Nearby Cash was reported at $3.78 1/4, which is an increase of 5 1/2 cents.
March 26 Corn closed at $4.38, up by 5 1/4 cents.
May 26 Corn also saw an increase, closing at $4.47 3/4, up 5 cents.
As of the publication date, Austin Schroeder did not hold (either directly or indirectly) any positions in the securities discussed in this article. All information and data in this article are provided solely for informational purposes. This article was originally published on Barchart.com.
