Corn futures are trading with contracts 2 to 4 cents lower on Friday’s midday, easing lower into the weekend. The CmdtyView national average Cash Corn price is down 3 1/4 cents to $4.21 1/4.
Export Sales data from Thursday tallied old crop corn commitments at 68.875 MMT, a 30% improvement from last year. That is now 82% of the USDA export projection and is behind the USDA export projection if 86%.
Ahead of the USDA March Intentions report next week, traders are looking for 94.37 million acres of corn to be reported by NASS. That would be a 4.4 million decline from last year if realized.
May 26 Corn is at $4.63 3/4, down 3 1/4 cents,
Nearby Cash is at $4.21 1/4, down 3 1/4 cents,
Jul 26 Corn is at $4.75 1/2, down 2 1/2 cents,
Dec 26 Corn is at $4.91 1/2, down 3 cents,
New Crop Cash is at $4.49, 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.
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