Corn futures saw modest gains on Thursday, with prices trading 1 to 2 ½ cents higher across the front months. The national average cash corn price, as reported by CmdtyView, dipped 2 cents to $3.96 3/4.
One significant development in the market was the USDA’s announcement of a private export sale of 178,000 MT of corn to Japan. This sale included 154,000 MT for the 2026/27 season and 24,000 MT for the 2027/28 season.
Additionally, the latest Export Sales data for the week of 2/19 was released, revealing a total of 682,804 MT of corn sold during that period. While this figure fell short of trade estimates, which had anticipated sales of 0.9-1.8 MMT of old crop corn, it still represented a 1.1% increase from the same week last year. New crop sales amounted to 11,685 MT.
In other news, a South Korean importer secured 135,000 MT of corn in a recent tender, while another importer issued a tender for 210,000 MT of corn. Turkey also entered the market, purchasing 350,000 MT of wheat in a separate tender.
As for specific price movements, Mar 26 Corn was at $4.28, down 2 1/2 cents, while Nearby Cash stood at $3.96 3/4, a decrease of 2 cents. May 26 Corn was at $4.40 3/4, down 1 1/4 cents, and Jul 26 Corn was at $4.49, also down 1 1/4 cents.
It’s important to note that the information and data provided in this article are intended for informational purposes only. The author, Austin Schroeder, does not hold any positions in the securities mentioned. This article was originally published on Barchart.com.
Overall, the corn market displayed some volatility on Thursday, with a mix of positive export sales and tender announcements influencing prices. Investors will be closely monitoring market developments in the coming days to gauge the direction of corn futures.
