Corn Facing Modest Thursday Weakness
Corn futures are trading with losses of 2 to 3 ½ cents across the front months on Thursday. The CmdtyView national average Cash Corn price is down 1 3/4 cents at $4.82 1/4.
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.
Traders continue to monitor the US/China meeting today, though nothing has been released and trade related news. Secretary Bessent has stated this week that the two countries are extending the trade truce for 2 months.
Dec 26 Corn is at $5.27, down 2 cents,
Nearby Cash is at $4.82 1/4, down 1 3/4 cents,
Mar 27 Corn is at $5.40 3/4, down 2 3/4 cents,
May 27 Corn is at $5.47 1/2, down 3 1/4 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.
