Corn Rallying Ahead of Long Weekend
Corn futures are rallying to close out August, as contracts are up 7 to 9 cents at midday. There were no deliveries issued for First notice against September. The CmdtyView national average Cash Corn price was up 10 1/4 cents at $3.77 1/4.
The market will be closed on Monday due to the Labor Day holiday, with a normal open on Monday night for the Tuesday session.
USDA Export Sales data has old crop corn commitments at 70.475 MMT, which is 98% of the USDA forecast, and lags the 103% average sales pace. New crop business is at 18.775 MMT, which is the second largest for the current week on record behind 2021/22.
Sep 25 Corn is at $3.94 1/2, up 9 cents,
Nearby Cash is at $3.77 1/2, up 10 1/4 cents,
Dec 25 Corn is at $4.17 1/2, up 7 1/2 cents,
Mar 26 Corn is at $4.35 1/4, up 7 3/4 cents,
New Crop Cash is at $3.73 3/4, up 8 1/4 cents,
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.