Corn futures are trading near unchanged so far on Friday morning. The corn market closed out the Thursday session with contracts down ½ to 6 ¼ cents, retreating from the early week rally. There were another 107 deliveries issued against December corn futures overnight, with contract expiration today. The national average Cash Corn price from cmdtyView was down 5 cents at $4.15.
The weekly Export Sales report showed an 11-week low in corn bookings for 2024/25 at 946,863 MT, which was also below the expected 1.1 to 1.9 MMT in the week ending on 12/5. That was also down 45.3% from last week and 33.3% below the same week last year. The largest buyer was Columbia at 257,900 MT, with Mexico buying 194,900 MT.
CONAB data was released on Thursday morning, showing expected Brazilian production at 119.63 MMT for the total corn crop, down 0.18 MMT from the month prior. That was solely due to the first crop, as the second crop corn projection was left unchanged at 94.63 MMT.
Dec 24 Corn closed at $4.31 3/4, down 6 1/4 cents, currently up 1 cent
Nearby Cash was $4.15, down 5 cents,
Mar 25 Corn closed at $4.43 1/2, down 4 3/4 cents, currently unch
May 25 Corn closed at $4.51, down 4 1/2 cents, currently unch
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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