Corn Rallies on April Fool’s Day

Austin Schroeder Barchart Tue Apr 1, 5:26PM CDT
Corn kernels - via CC0 Public Domain

Corn futures started off April with contracts 4 to 8 cents higher across most contracts. New crop contracts led the way, as rains in the forecast may limit any early planting. The CmdtyView national average Cash Corn price was up 7 ¾ cents on the day at $4.31 1/4. 

Monthly Grain Crushing data from NASS showed a total of 421.2 mbu of corn used for ethanol production during February. That was down 10% from January’s revised (10.5 mbu higher) total and 5.44% below the same month (29 days) last year. the Marketing year total is at 2.754 bbu of corn used for ethanol, 1.31% ahead of the same period from a year ago.

Brazil’s corn production is expected to total 25.6 MMT for the first crop according to StoneX, down 0.63 MMT from their previous estimate, with the second crop trimmed by 0.51 MMT to 101.62 MMT.

May 25 Corn  closed at $4.61 3/4, up 4 1/2 cents,

Nearby Cash  was $4.31 1/4, up 7 3/4 cents,

Jul 25 Corn  closed at $4.68 1/4, up 5 cents,

Dec 25 Corn  closed at $4.49 1/2, up 7 1/2 cents,

New Crop Cash  was $4.13 1/2, up 9 3/4 cents,


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.