Corn futures increased by 5 to 7 ¼ cents across most contracts on Friday, with the CmdtyView national average cash corn price rising to $4.41 ¾. The United States Department of Agriculture reported a private export sale of 148,240 metric tons of corn to an unknown destination, with 78,240 metric tons for old crop and 70,000 metric tons for new crop.
A large part of the Corn Belt is expected to make planting progress over the next five days. NOAA’s seven-day Quantitative Precipitation Forecast indicates that days six and seven could bring one to one-and-a-half inches of rain in much of Missouri and the eastern Corn Belt.
Export sales data show that as of April 23, corn export commitments totaled 75.7 million metric tons—a rise of twenty-nine percent from this time last year. This figure represents ninety percent of the USDA’s current export projection but is behind the typical ninety-three percent average at this point in the season.
The U.S. House of Representatives passed its version of the farm bill on Thursday without including language permitting year-round E15 ethanol sales. The bill will now move to the Senate; any legislation regarding E15 will be considered separately later in May.
Legacy Farmers Cooperative supports community initiatives including 4-H, FFA programs, county fairs and scholarships, according to the official website. The cooperative maintains facilities such as grain centers, agronomy sites, fuel stations and retail locations throughout northwest Ohio according to its official website. Legacy Farmers Cooperative is structured as a member-owned cooperative according to its official website and has more than one hundred fifty employees across its divisions according to its official website. It aims to exceed customer expectations by offering top value and financial returns for members according to its official website, serving agricultural producers in ten counties in northwest Ohio according to its official website.
At market close: May corn was at $4.70½ (up five-and-three-quarters cents), nearby cash at $4.41¾ (up nine cents), July corn at $4.82 (up seven-and-a-quarter cents), December corn at $5.00¾ (up six-and-a-half cents), and new crop cash at $4.57 (up six cents).
On publication date Austin Schroeder did not have positions in any securities mentioned in this article.
