Corn Prices Bounce Back Amid Wheat Rally and Strong Export Sales

Corn prices are rising on Friday, recovering from losses on Thursday, according to Barchart.com. The CmdtyView national average Cash Corn price is up 9 3/4 cents at $4.28. This increase follows a wheat-led rally due to rising tensions in the Black Sea region.

The market's support for corn comes from export sales data, which shows old crop corn sales at 87.503 MMT, exceeding the USDA number by 104%. Accumulated shipments of corn are also strong, reaching 80.066 MMT or 95% of the USDA export projection.

However, new crop corn sales have slowed down, with a decrease of 23.5% compared to the same period last year at 10.575 MMT. The current prices for corn include Sep 26 Corn at $4.57, up 9 cents; Nearby Cash at $4.28, up 9 3/4 cents; Dec 26 Corn at $4.81 1/4, up 9 1/4 cents; and Mar 27 Corn at $4.97 1/4, up 9 1/2 cents.