Corn Falls Lower on Thursday
Corn futures closed out the Thursday session with losses of 3 ¾ to 7 cents across the board. The front month national Cash Corn price from cmdtyView was down 7 cents to match Dec, settling at $3.71 1/2 per bu.
This morning's Export Sales report indicated 847,350 MT in corn bookings during the week of September 12, in the middle of the 550,000 MT and 1.4 MMT estimates. That was an improvement over the previous week and 49.5% larger than the same week last year. Mexico was the largest buyer of 280,800 MT, with 183,400 MT sold to unknown destinations.
The International Grains Council trimmed the estimated world production by 2 MMT to 1.224 billion MT, with consumption up 1 MMT. That helped to tighten the 2024/25 world stocks by 1 MMT to 276 MMT.
Dec 24 Corn closed at $4.05 3/4, down 7 cents,
Nearby Cash was $3.71 1/2, down 7 cents,
Mar 25 Corn closed at $4.24 1/4, down 6 1/2 cents,
May 25 Corn closed at $4.35 1/4, down 6 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.
