Corn futures are rallying, with contracts up 7-9 cents and the CmdtyView national average Cash Corn price increasing by 10 1/4 cents to $3.77 1/4. This upward momentum is primarily driven by robust new crop export sales, which at 18.775 MMT represent the second largest volume on record for the current week, offsetting old crop commitments that lag the historical average sales pace.
Corn futures and cash prices are exhibiting a notable rally, with futures contracts up 7 to 9 cents and the national average cash price increasing by 10 1/4 cents to $3.77 1/4. This bullish momentum is driven by a significant divergence in export sales data. While old crop commitments are lagging the historical average pace, at 98% of the USDA forecast compared to a typical 103%, this concern is being overshadowed by exceptionally strong forward demand. New crop sales have reached 18.775 MMT, marking the second-largest volume for the current week on record. Further supporting the near-term bullish sentiment is the lack of deliveries against the September contract on First Notice Day, suggesting a reluctance among holders to sell physical supply at current levels. The market structure is in contango, with deferred contracts like December 2025 ($4.17 1/2) and March 2026 ($4.35 1/4) priced progressively higher, reflecting expectations of future price strength or carrying costs.
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strongly positive
Sentiment Score
0.65
Ticker Sentiment
