Corn Falling to Round Out the Week
Corn futures are being pulled lower on spillover weakness from wheat after a week of strength. Contracts are down 4 to 6 ¼ cents at midday. The national average Cash Corn price from cmdtyView is down 6 1/2 cents at $3.82 1/2 per bu. The average close for December corn futures so far in October is $4.17. That is 49 cents below the February base insurance price.
USDA reported another private export sale of 135,000 MT of corn to Mexico for 2024/25 this morning.
The large 3.602 MMT reported for export sales in the week of 10/17 took the MY total to 23,478 MMT. That is 34% above the same point last year and a total of 40% of USDA’s export projection for the full year. Normally exporters would have sold 38% of the export projection by now.
Dec 24 Corn is at $4.15 1/4, down 6 1/4 cents,
Nearby Cash is at $3.82 1/2, down 6 1/2 cents,
Mar 25 Corn is at $4.29 1/2, down 5 1/2 cents,
May 25 Corn is at $4.37 1/4, down 4 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.