Corn Giving Back Thursday Gains with Midday Friday Losses
Corn futures are trading with weakness on Friday, as contracts are down 2 to 6 cents at midday. Futures are falling back after the strength on Thursday. The CmdtyView national average Cash Corn price was back down 5 3/4 cents at $4.27 1/4.
Export Sales data from Thursday morning showed 1.497 MMT in bookings. That takes total export sale commitments for the 2024/25 crop to 52.031 MMT, which is still 25% larger than the same period last year. That is also 84% of the USDA export projection, ahead of the 5-year average sales pace by 1 percentage point.
Buenos Aires Grain Exchange estimate the Argentina corn crop is 14% harvested.
May 25 Corn is at $4.63 1/4, down 5 3/4 cents,
Nearby Cash is at $4.27 1/4, down 5 3/4 cents,
Jul 25 Corn is at $4.71, down 4 1/2 cents,
Dec 25 Corn is at $4.50 1/4, down 2 3/4 cents,
New Crop Cash is at $4.13 3/4, 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.