Thursday's Corn Rally: Export Data Fuels Market Strength

2025-12-26 01:58:45

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Corn futures delivered solid gains during Thursday trading sessions, with nearby contracts climbing between 2-2½ cents as market participants digested a stream of bullish export news. The week proved particularly robust, with a private transaction involving 186,000 MT of corn to undisclosed buyers adding to the day’s momentum.

Export Activity Reaches New Highs

The week ending November 13 marked a standout period for corn sales, with commitments totaling 2.38 million metric tons—well above the anticipated 0.8-2 MMT range and representing a 59.3% surge compared to the identical week in 2023. This impressive volume exceeded estimates and signals sustained international demand.

September’s delayed Census data revealed shipments of 6.978 million bushels (274.7 mbu), establishing a record for that month and demonstrating year-over-year growth of 60.93% relative to September 2023. August comparisons showed an even sharper acceleration of 9.09%.

Global Buying Pressures Building

A Taiwan import tender overnight secured 65,000 MT of U.S. corn, reinforcing demand from major Asian buyers. Meanwhile, distiller exports reached 1.059 MMT, running 1.47% ahead of year-ago levels, with ethanol shipments reaching 148.4 million gallons during the month.

Cash Market Strength

The CmdtyView national average cash corn price moved upward by 1½ cents, settling at $4.01½ per bushel, reflecting the underlying strength in physical markets. December futures expiring Friday closed at $4.35¼, up ½ cent, while spot cash holdings reached $4.01½.

Forward Contract Developments

March 2026 corn contracts advanced 2¼ cents to $4.46½, while May 2026 futures gained 2½ cents to $4.54¼, suggesting market participants expect sustained price floors in coming months.

Brazilian Supply Update

CONAB’s morning release indicated Brazilian corn production at 138.88 MMT, a modest 0.04 MMT increase from previous estimates, keeping global supply dynamics in focus as Northern Hemisphere markets evaluate harvest completions and planting prospects.

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