The corn market is trading with Friday midday losses of 3 to 4 cents across the front months, despite a USDA’s Export Sales report. The national average Cash Corn price from cmdtyView is down 3 1/2 cents at $4.51.
Export Sales for 2024/25 corn totaled 1.66 MMT in the week ending on January 16, on the top end of the 0.7 and 1.7 MMT estimates. That was the largest in 4 weeks and up 62.2 % from the week prior. South Korea was the largest buyer of 462,100 MT, with 277,500 MT sold to Taiwan. The 2025/26 corn bookings totaled 9,243 MT, coming in between the 0 and 50,000 MT expectations. That was spilt between Mexico and Japan.
The Buenos Aires Grain Exchange trimmed their Argentine corn crop estimate by 1 MMT to 49 MMT. Argentina is cutting their corn export tax from 12% to 9.5% starting on January 26.
Mar 25 Corn is at $4.86, down 3 3/4 cents,
Nearby Cash is at $4.51, down 3 1/2 cents,
May 25 Corn is at $4.95 1/2, down 3 3/4 cents,
Dec 25 Corn is at $4.61 1/4, down 3 cents,
New Crop Cash is at $4.32 1/1, down 3 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. More news from Barchart- Failure Points: Looking At What Is Priced In and What Isn't In The Grain Markets
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