Corn futures are experiencing minimal losses on Thursday, October 5, 2023, despite positive export figures. The national average cash corn price stands at $4.00 3/4 per bushel, down ½ cent. The weekly export sales report indicates 1.684 million metric tons (MMT) of corn booked for the week ending September 26, surpassing trade estimates and marking the highest volume in four weeks. Notably, Mexico was the largest buyer, purchasing 540,800 MT, followed by Colombia with 339,100 MT and Japan with 244,000 MT.
Dry conditions across the U.S. are expected over the coming week, with forecasts suggesting drier and warmer weather, which may expedite the harvest process. As of now, December 2024 corn futures are priced at $4.31 3/4 per bushel, reflecting a decrease of ¾ cent.
