Corn futures saw a notable uptick on Thursday, closing 3 ¾ to 6 ½ cents higher, nearing last week’s peak levels. The CmdtyView national average Cash Corn price rose by 6 ¾ cents to $4.27 ¾. Despite this positive movement, export sales for the week ending March 12 fell 13.4% from the previous week and were 11.7% lower year-over-year, with Mexico leading purchases.
The International Grains Council reported an increase in global corn production and usage, raising ending stocks to 306 million metric tons. However, projections for 2026/27 suggest a decline in production by 13 million metric tons, which could tighten supply against rising demand. Additionally, the Buenos Aires Grain Exchange noted that Argentina’s corn harvest is only 13% complete, adding further uncertainty to future supply.
For market professionals, the current dynamics in corn futures highlight potential volatility ahead. For a deeper dive into the latest trends and data, I recommend checking out the full article.
Source: nasdaq.com