Corn Eases Lower as Export Business Disappoints
Corn futures rounded out the Thursday trade, with fractional to 2 ½ cent losses across the most contracts at the close. The CmdtyView national average Cash Corn price was down 1 1/4 cents at $4.83 3/4.
The next 7 days are looking for a wet pattern across the central third of the country, with the Plains through IN expected to get 1 to 4 inches and the heaviest totals in NE, IA, MO, and KS.
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Export Sales data from this morning showed 838,328 MT of corn sales in the week ending on September 17, which was on the low side of trade ideas looking for 0.8-1.4 MMT. That was less than half of the same week last year and 18.3% below the previous week. Japan was the top buyer of 247,000 MT, with 211,000 MT sold to Mexico and Colombia buying 201,300 MT.
Traders were monitoring the US/China meeting, though nothing was released surrounding trade related news. Secretary Bessent has stated this week that the two countries are extending the trade truce for 2 months.
Dec 26 Corn closed at $5.27 1/2, down 1 1/2 cents,
Nearby Cash was $4.83 3/4, down 1 1/4 cents,
Mar 27 Corn closed at $5.41 1/2, down 2 cents,
May 27 Corn closed at $5.48 1/4, down 2 1/2 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
