Corn futures saw a decline of 9 to 11 cents on Friday, with May corn futures experiencing 124 deliveries. The CmdtyView national average cash corn price dropped by 11 cents, settling at $4.16 3/4.
As of May 7, total corn commitments reached 77.748 million metric tons (MMT), marking a 25% year-over-year increase and 93% of the USDA forecast. Export shipments stand at 55.8 MMT, which is 69% of the USDA forecast and exceeds the 66% average pace. US FOB prices remain competitive globally, though increased production in Argentina is impacting market dynamics.
Additionally, South Korean importers purchased 191,000 MT of corn in separate tenders, primarily sourcing from optional origins.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
