Corn futures are trading with 7 to 9 cent losses at Friday’s midday. Crude Oil is the pressure factor, down $2.08/bbl, money is flowing out ahead of the weekend, with the President looking over the proposed agreement between the US and Iran. The CmdtyView national average Cash Corn price is down 8 3/4 cents to $4.08 ½.
USDA Export Sales data from this morning showed 1.015 MMT of corn sold for 2025/26 in the week of May 21, on the low side of trade estimates for 0.9 to 2 MMT. That was down 52.2% from last week but still 10.8% above the same week last year. New crop business was tallied at a marketing year high of 618,594 MT, exceeding expectations of 300,000 to 500,000 MT. Accumulated new crop business is now 2.953 MMT, down just 1.6% from the same period last year.
The Buenos Aires Grains Exchange estimate the Argentina corn crop at 34.7% harvested.
Jul 26 Corn is at $4.47, down 8 3/4 cents,
Nearby Cash is at $4.08 1/2, down 8 3/4 cents,
Sep 26 Corn is at $4.55 3/4, down 8 1/2 cents,
Dec 26 Corn is at $4.74 1/2, down 7 3/4 cents,
New Crop Cash is at $4.26 1/4, down 8 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.
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