Corn futures closed out the Thursday session with contracts down 3 ½ to 5 ½ cents across the board, as December has failed to push back through $4 successfully.
A couple private export sales of 132,000 MT of 2024/25 corn to unknown destinations and 110,490 MT to Mexico were announced this morning.
Weekly Export Sales data showed a MY low in corn export business for the 2023/24 crop at 119,123 MT. That was on the low end of the 100,000 and 300,000 MT expectations in the week of August 15, but is normal for this late in the MY. New crop sales came in at 1.291 MMT, a MY high and above the 0.5 to 1.025 MMT estimates for that week. A majority of the next crop sales were to Mexico at 873,400 MT.
The third day of the ProFarmer Crop Tour on Wednesday showed Illinois yields averaging 204.14 bpa. That was above the 193.72 bpa from last year and the 3-year average of 193.58 bpa. Today is the final leg of the tour, with Iowa and Southern Minnesota yields released later today.
Sep 24 Corn closed at $3.71 1/2, down 4 cents,
Nearby Cash was $3.59 3/8, down 3 3/4 cents,
Dec 24 Corn closed at $3.93 1/2, down 4 3/4 cents,
Mar 25 Corn closed at $4.11 1/2, down 5 1/2 cents,
New Crop Cash was $3.52 5/8, 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.
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