Corn Heads on the Higher Side of Unchanged to Close Out October

The corn market posted steady to 1 ¼ cent gains across most contracts on Friday, as December was up 8 ¼ cents on the week. The CmdtyView national average Cash Corn price was up 1/4 cent to $3.91 1/4. Spillover support was noted from strength in the wheat and soybeans.

The average close for December corn futures w at $4.22, should be the harvest price for crop insurance. That is 6 cents above last year’s harvest and 48 cents below the spring price.

Ukraine corn exports totaled just 0.8 MMT in October, which was a large drop from the 1.73 MMT last year according to economic minister. The Argentina corn crop was pegged at 35% planted, according to the Buenos Aires Grain Exchange.

Dec 25 Corn  closed at $4.31 1/2, up 1 1/4 cents,

Nearby Cash  was $3.91 1/4, up 1/4 cent,

Mar 26 Corn  closed at $4.44, up 1/4 cent,

May 26 Corn  closed at $4.52 1/4, unch,

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. This article was originally published on Barchart.com