Corn price action is showing another round of 1 to 2 cents so far on Friday. Futures posted some gains heading into the Thursday close, ahead of USDA report day, as contracts were up 1 to 2 ½ cents across most months. The national average Cash Corn price from cmdtyView was up 1 1/2 cents at $4.26 3/4.

The weekly Export Sales report is expected to show 0.7 to 1.4 MMT of 2024/25 corn bookings in the week ending on January 2. Sales for 2025/26 are estimated at 0 to 100,000 MT. 

USDA will release their annual Crop Production report on Friday morning, with analysts surveyed by Reuters looking for a 0.4 bpa cut to yield at 182.7 bpa. Production is seen down 48 mbu to 15.095 bbu, as harvested acres are expected to see a slight reduction. Grain Stocks data will also be released with traders looking for December 1 corn stocks at 12.147 billion bushels, down 24 mbu from last year if realized. The WASDE report is expected to peg the US ending stocks total at 1.675 bbu. 

On the world side analysts are expecting to see very few changes to the Brazilian crop at 127 MMT, with the Argentina crop seen down 0.5 MMT to 50.5 MMT. Ending stocks for the world are seen at 294.80 MMT, a drop of 1.64 MMT from December. 

Another couple of South Korean importers purchased a total of 199,000 MT of corn overnight, with US or South American origin. 

Mar 25 Corn  closed at $4.56, up 2 cents, currently up 1 1/2 cents

Nearby Cash  was $4.26 3/4, up 1 1/2 cents,

May 25 Corn  closed at $4.64 1/2, up 2 cents, currently up 1 cent

Jul 25 Corn  closed at $4.68, up 2 1/4 cents, currently up 1 cent