Corn futures closed with a mixed performance on Thursday as traders adjusted positions before the Good Friday market holiday. According to settlement data from the Chicago Board of Trade, front-month May corn fell 2 cents to $4.52 1/4 per bushel. Nearby cash prices dropped 2 1/4 cents to $4.12 1/2.
New crop contracts showed more resilience. The December 2026 contract finished unchanged at $4.81 1/4. This split suggests traders are weighing immediate supply against longer-term planting and demand prospects.
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Weekly Losses and Export Data
For the week, May corn lost 9 3/4 cents. December fell 9 cents. The declines came despite supportive export figures. Data from the U.S. Department of Agriculture showed old crop corn export sales of 1.15 million metric tons for the week ending March 26.
That volume was down 5.6% from the previous week. It also came in 2% below the same period last year. Mexico was the leading buyer at 170,700 MT. Japan purchased 168,800 MT, and Taiwan bought 150,900 MT. New crop business totaled 102,609 MT, all destined for Mexico.
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Separate monthly data from the U.S. Census Bureau revealed a record for February. Corn exports hit 6.77 MMT, a 2.44% increase from January. Ethanol shipments also set a February record at 794.45 million gallons.
Broader Market Influences
Energy markets provided a volatile backdrop. Crude oil futures surged $11.94 to settle at $112.06 per barrel. The jump followed a national address by President Trump on Wednesday night. The speech indicated military strikes could continue for two to three more weeks. It also highlighted ongoing uncertainty regarding the Strait of Hormuz, a critical global oil chokepoint.
Analysts note that high energy costs directly impact corn through increased production and transportation expenses. They also bolster demand for corn-based ethanol. This complex relationship often creates opposing pressures on grain prices.
“Traders were clearly taking money off the table before the long weekend,” one market observer said, referencing the front-month weakness. “The export numbers were decent, but not enough to overcome the desire to reduce risk exposure.”
What Happens Next
Grain markets are closed on Friday, April 3, for the Good Friday holiday. Trading will resume with a normal Sunday night electronic session. Attention will quickly turn to upcoming USDA reports and spring planting progress across the U.S. Corn Belt.
Weather forecasts will become a primary price driver. Any delays to planting could tighten new crop supply expectations. Global demand trends, particularly from China, will also be monitored closely. The recent export data suggests steady, but not spectacular, international buying interest.
For real-time commodity data and charts, visit the CME Group corn futures page. Official USDA export reports are published weekly on the Foreign Agricultural Service website.
This article was produced with AI assistance and reviewed by our editorial team for accuracy and quality.
