The corn market is trading with 2 to 3 cent losses early on Friday morning. Futures posted losses across most contracts on Thursday, with contracts down 2 to 4 cents across most months. Preliminary open interest was down 6,100 contracts on Thursday. The CmdtyView national average Cash Corn price was down 3 1/2 cents to $3.91.
With just 1 day remaining in the harvest price discovery for crop insurance, December corn has an average close at $4.22 during October. That is up 6 cents from last year and down 48 cents from the spring price.
Ukraine corn exports totaled just 0.8 MMT in October, which was a large drop from the 1.73 MMT last year according to economic minister.
Following the meeting between President Trump and President Xi of China on Wednesday, President Trump posted that China is set to purchase massive amounts of sorghum, though no specifics were given on total. Corn was not mentioned, though tariffs are expected to be lifted.
Dec 25 Corn  closed at $4.30 1/4, down 3 3/4 cents, currently down 2 1/2 cents
Nearby Cash  was $3.91, down 3 1/2 cents,
Mar 26 Corn  closed at $4.43 3/4, down 3 cents, currently down 2 3/4 cents
May 26 Corn  closed at $4.52 1/4, down 2 3/4 cents, currently down 3 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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