Corn Holds onto Thursday Rally

Austin Schroeder Barchart Thu Jan 23, 5:14PM CST
Spring filed with sprouts of corn via Shutterstock

Corn futures posted gains across the board on Thursday, as new crop kept up the pace with old crop and contracts 4 to 6 cents higher. The national average Cash Corn price from cmdtyView is up 5 1/4 cents at $4.55 1/2. 

Weekly EIA production totaled 1.099 million bpd in the week ending on 1/17, down 4,000 barrels per day on the week. Ethanol stocks were larger than anticipated at 25.874 million barrels, up another 866,000 barrels from the week prior. Exports were up 44,000 barrels per day at 169,000 bpd. 

Export Sales for 2024/25 corn are expected to total between 0.7 and 1.7 MMT in the week ending on January 16, with 2025/26 corn bookings between 0 and 50,000 MT. 

Crop condition ratings have been dropping in Argentina, but some key areas have also just received rains.  The Buenos Aires Grain Exchange trimmed their crop estimate by 1 MMT to 49 MMT. 

Mar 25 Corn  closed at $4.89 3/4, up 5 1/2 cents,

Nearby Cash  was $4.55 1/2, up 5 1/4 cents,

May 25 Corn  closed at $4.99 1/4, up 5 1/4 cents,

Dec 25 Corn  closed at $4.64 1/4, up 4 3/4 cents,

New Crop Cash  was $4.35 7/8, up 4 1/2 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.