Corn Hits One Month High on Thursday

Core Insights - Corn futures are experiencing a slight recovery, closing with gains of 5 to 6 cents, supported by significant increases in wheat, soybeans, and crude oil prices [1][2] - The average cash corn price is reported at $3.87 1/4, reflecting a 5-cent increase [1] - The average December corn closing price for October is $4.19, which is 51 cents lower than the February price and slightly above last year's harvest price of $4.17 [1] Market Data - The USDA has delayed the weekly Export Sales report due to a government shutdown, with estimates of corn sales ranging from 0.8 to 2 million metric tons for the week ending October 16 [2] - The International Grains Council indicates that world corn production for 2025/26 remains steady, with consumption increasing by 2 million metric tons and stocks rising by 5 million metric tons to 299 million metric tons, driven by increased stocks for 2024/25 [2] - Specific corn futures prices include December 25 closing at $4.28 (up 5 cents), Nearby Cash at $3.87 1/4 (up 5 cents), March 26 at $4.41 1/4 (up 5 1/2 cents), and May 26 at $4.49 1/4 (up 5 3/4 cents) [2]