Corn Futures Surge, Export Sales Soar

Corn futures surged on Friday, with December contracts gaining ten cents, and the national average cash price rose by over seven cents to four dollars and eleven cents. The USDA reported a significant private export sale of nearly two hundred seventy-four thousand metric tons of corn, indicating strong international demand. The Export Sales report for the week ending October sixteenth showed impressive figures, with corn sales reaching nearly three point four million metric tons, the largest weekly sale in exactly one year. Total export commitments are currently forty-two point nine percent higher than last year, reaching a record high of thirty-three point five six million metric tons. Traders are now anticipating the sales data for the week ending October twenty-third, expecting corn bookings to fall between one point one and two point five million metric tons, suggesting continued activity in the corn market.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.