Corn futures are maintaining gains of 1 to 2 cents across most contracts on Friday. The CmdtyView national average Cash Corn price rose 1.5 cents to $4.52.5.
USDA reported 205,000 metric tons of corn sold during the reporting period to unknown destinations this morning.
The ProFarmer Crop Tour indicated Iowa corn yields averaging 193.98 bushels per acre, down 2.24% from last year but 1.38% above the three-year average. In Minnesota, yields were estimated at 199.01 bushels per acre, a decrease of 1.9% from a year ago, yet 3.09% above the three-year average.
USDA Export Sales data from Thursday shows old crop corn commitments at 87.74 million metric tons, representing 24% above last year. This is also 102% of the USDA projection and matches last year’s pace. Accumulated sales for new crop now stand at 11.391 million metric tons, lagging last year by 21.7%. Despite this, the forward book remains the fourth-largest since 2000.
Sep 26 Corn is at $4.80 1/4, up 1 1/2 cents,
Nearby Cash is at $4.52 1/2, up 1 1/2 cents,
Dec 26 Corn is at $5.05 1/4, up 1 3/4 cents,
Mar 27 Corn is at $5.20, up 1 3/4 cents,
New Crop Cash is at $4.55 1/4, up 1 1/2 cents,
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