Corn Market Dips Despite Export Sale Announcement

The corn market did not respond positively to a recent export sale, with contracts closing 1 ¼ to 3 ¼ cents lower. The national average Cash Corn price, according to cmdtyView, fell by 1 ¾ cents to $4.14 ½.

USDA Reports Export Sale to Mexico

This morning, the USDA announced a private export sale of 170,400 MT of corn to Mexico, slated for shipment in the 2024/25 period.

Changes in E15 Sales Regulations

A proposed US government funding bill may introduce a plan to allow E15 sales year-round, lifting the previous summer sales ban.

Brazil and South Korea Trade Updates

The ANEC has revised its estimate for December corn exports from Brazil to 4.1 MMT, a slight increase of 0.13 MMT from last month. Additionally, a South Korean importer secured a purchase of 66,000 MT of corn in a tender issued overnight.

Market Close Prices

Mar 25 Corn closed at $4.43 1/2, a decrease of 1 1/2 cents.

Nearby Cash was recorded at $4.14 1/2, down 1 3/4 cents.

May 25 Corn ended at $4.50, a drop of 1 3/4 cents.

Jul 25 Corn closed at $4.53 1/4, also down 1 3/4 cents.

On the date of publication, Austin Schroeder did not hold positions in any of the securities mentioned in this article. All information and data in this article are for informational purposes only. For more details, please view the Barchart Disclosure Policy here.

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.