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Corn Crunched: Export Demand Strong Despite Dip

Corn Crunched: Export Demand Strong Despite Dip

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This is your Daily Corn Price Tracker with Vanessa Clark podcast.

Hey everyone, welcome back to Daily Corn Price Tracker. I'm Vanessa Clark, and thanks so much for tuning in today, Monday, December first. We're kicking off the month and I've got some really important updates for you about what's happening in the corn market right now.

So let's jump right into the numbers because that's what you're here for. December corn futures are trading at four dollars and thirty three cents this morning, down two and a half cents from where we closed last week. Now, I know that might sound like a small move, but in the grain markets, every penny counts. We're also watching March futures, which are sitting at four dollars and forty five and a half cents, down about two and a quarter cents. If you're thinking longer term, December twenty twenty six futures are at four dollars and sixty six and three quarters, down a cent and a half.

Here's what's interesting though. Last week during the holiday shortened trading, corn actually performed pretty well. December was up a dime for the entire week, and that rally came from some really solid export news. The USDA reported massive corn export sales of two point eight million tons for the twenty twenty five to twenty twenty six marketing year during the week ending October sixteenth. That absolutely crushed analyst expectations, which were only looking for one point four to two point five million tons. We also saw another five hundred seventy one thousand five hundred tons sold for the following year.

But here's where things got interesting today. The market pulled back about two to three cents across most contracts. The CmdtyView national average cash corn price dropped to three dollars and ninety nine and a quarter cents. We did see some activity though. There were eighty deliveries issued against December contracts, all from an ADM customer. And exporters reported a private sale of two hundred seventy three thousand nine hundred eighty eight metric tons of corn to unknown destinations.

Looking at the bigger picture for your longer term outlook, cumulative corn export commitments are actually running about forty two point nine percent above last year at thirty three point fifty six million bushels. That's a record high for this point in the season. We're also tracking Brazilian first crop corn planting at ninety nine percent complete, which is ahead of last year's pace of ninety seven percent.

So here's what I want you to take away from today's show. Yes, we had a slight pullback this morning, but the underlying fundamentals for corn exports remain strong. We're seeing consistent demand, particularly from major buyers like Mexico and Japan. Keep your eyes on those export reports because they're really driving the market right now, especially as the USDA works through their backlog of reports.

Thanks so much for listening to Daily Corn Price Tracker. I'm Vanessa Clark, and we'll be back tomorrow with more updates on everything happening in the corn market. Be sure to subscribe and tune in next time. Have a great rest of your day.

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