Corn futures are trading with midday losses of 1 to 2 cents on Friday. Spillover pressure from sharp losses in wheat are weighing on the market. The CmdtyView national average Cash Corn price is down 1 3/4 cents at $4.32.
As we look to round out July, the NOAA 7-day QPF shows less than 0.5 inches across much of the Corn Belt in the next week. MO is the exception with at least an inch expected, with eastern OH seeing 1 to 2 inches.
Export Sales data released on Thursday showed total corn commitments now at 86.613 MMT, which is 103% of the USDA export projection and ahead of the 101% from the last 3 years. Sales for new crop are now accumulated at 7.56 MMT, which is 12.5% ahead of the same period last year.Â
Sep 26 Corn is at $4.62 1/4, down 1 3/4 cents,
Nearby Cash is at $4.32 1/1, down 1 3/4 cents,
Dec 26 Corn is at $4.85 3/4, down 1 3/4 cents,
Mar 27 Corn is at $5.01 1/2, down 1 1/2 cents,
New Crop Cash is at $4.36 3/4, down 1 3/4 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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