Corn Pushing Higher Early on Friday

By: barchartnews|2025/05/02 13:00:01

Corn futures are up 2 to 4 cents so far on Friday morning. The corn market ended the Thursday session with contracts down 3 to 4 cents in the nearbys and up a penny in December. Preliminary open interest was up 6,510 contracts on Thursday, most coming in December. There were another 28 deliveries issued for May corn futures overnight, all stopped by an RJO customer. The nearby CmdtyView national average Cash Corn price was unch at $4.42 3⁄4.The next week shows spottier totals of around 1 inch in parts of MO, IL, and IN, with OH seeing some heavier totals. Areas south of that are expected to receive more. The WCB is looking drier, with much of NE, IA, WI, MN, and the Dakotas expected to receive little to no precipitation.Export Sales data showed 1.014 MMT of 2024/25 corn sold in the week of April 24, a 3-week low but up 33.7% from the same week last year. Mexico was the largest buyer of 451,400 MT, with 166,200 MT to Colombia and Israel buying 130,700 MT. New crop bookings were tallied at 244,704 MT. That was the second largest total for the marketing year. Mexico purchased 184,700 MT, with 56,000 MT sold to Japan. The monthly Grain Crushing Report from NASS showed 454.197 million bushels of corn used for ethanol production in March. That was up 7.7% from the February figure but a 3.79% drop from last year. The marketing year corn used for ethanol is at 3.209 billion bushels, up ~18 mbu vs. the same time last year and the largest through March since 2017/18.The Buenos Aires Grain Exchange estimates the Argentina corn crop at 31% harvested, a slow 1% progression on the week.May 25 Corn closed at $4.64 1/4, down 3 cents, currently unchNearby Cash was $4.42 3/4, up 0 cent,Jul 25 Corn closed at $4.72 1/4, down 3 1/4 cents, currently up 2 1/2 centsDec 25 Corn closed at $4.47 1/4, up 1 cent, currently up 3 1/2 centsNew Crop Cash was $4.07 3/4, down 1/2 cent, 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.

-- Price

Morgan Stanley's chief equity strategist Wilson pointed out that the momentum in the semiconductor sector is waning, with the Philadelphia Semiconductor Index having dropped nearly 14% from its peak. Funds are shifting towards AI supercomputing giants like Microsoft, Amazon, and Meta, as well as sec...

$10,000 in TRUMP Token vs. $10,000 in Nasdaq: The "Trump Trade" That Actually Worked in 2026

TRUMP Token lost more than 96% after its launch, while Nasdaq stocks and NVIDIA delivered strong gains. Compare what happened to a $10,000 investment and explore why asset fundamentals matter more than market hype.

Morning Report | Vitalik outlines Ethereum's long-term roadmap, Lean Ethereum will become the third major iteration; SK Hynix seeks to attract more AI investors by listing in the U.S

July 5 Market Important Events Overview

The impact of OUSD on Circle, Tether, and Paxos: not a single negative factor, but a more complex reshaping of competition

OUSD will not be the last new competitor; Circle needs to respond more actively in terms of products, distribution, and ecosystem collaboration.

Li Feifei's latest long article: When video generation, robots, and NVIDIA all claim to be world models, we need a taxonomy

Language gives machines a way to talk about the world. The world model is the means by which machines ultimately understand, imagine, reason, and interact with it.

Blaming the desolation of the cryptocurrency world on the rise of AI is a form of intellectual laziness

The emergence of giants signifies a mature business model. Although it will reduce speculative space, there is also enough room for error, allowing for the continuous emergence of new forces.

Strategy Founder: The Next 10 Years of Bitcoin

In the next decade, the biggest evolution of Bitcoin is precisely "responding to change with invariance." The four-year cycle is giving way to capital flows such as ETFs, corporate and sovereign reserves, and bank credit, while digital credit and digital currency will grow layer upon layer on top of...

Forbes Special Report: Stablecoin cross-border payments are faster now, but not cheaper yet

Cross-border payments using stablecoins are rapidly expanding, bringing speed and accessibility, but due to insufficient institutional liquidity, they have not yet delivered on their promised cost savings. The technology has been validated, and regulations are improving, but the industry has not yet...

A valuation of 8 billion dollars, doubling in 8 months! What makes the crypto-friendly bank Erebor Bank stand out?

Erebor is a high-profile experiment taking place at the intersection of banking, cryptocurrency, and industrial policy.

340 billion valuation: Li Yanhong's largest IPO, a seat in Kunlunxin's shares is hard to come by

As a core asset in Baidu's AI landscape, Kunlun Chip is expected to exceed Baidu's market value after going public, becoming an important bargaining chip in its turnaround battle.

Stablecoins are the "royalists" of the crypto world: Open USD brings the old currency system into play

The emergence of Open USD has shifted the competition for stablecoins from the market struggle of crypto startups to a battle for infrastructure involving traditional finance, payment networks, technology platforms, and public chain ecosystems.

The ten years of Cloud on the Air: From corner coffee to global financial infrastructure

From ByteDance to Financial Freedom: How did "Byte Brother" Leto develop his investment judgment skills to achieve a turnaround of 30 million?

Speak with data and signals, validate judgments with A/B tests, and seek asymmetric returns with limited risk exposure.