Corn prices in Chicago are trading 1 to 5 cents lower at midday, amid a backdrop of fluctuating futures that saw gains of 2 to 6 cents on Wednesday. The CmdtyView national average cash corn price is down 1 cent at $4.07. July options expire today.
The USDA reported export sales of 903,792 MT of 2024/25 corn for the week of June 12, up 14.2% from the previous week and 76.7% larger than the same week last year. New crop business included 154,998 MT, aligned with expectations, alongside an announcement of a sale of 124,000 MT to “unknown destinations.”
Forecasts indicate heavy rains next week across parts of NE, SD, MN, WI, and MI, with totals ranging from 1 to 5 inches. The Southern Plains and Eastern Corn Belt are expected to receive lower totals, with daytime highs above 100°F in parts of the Plains and WCB this weekend.
