Corn futures are declining on Friday, with contracts falling by 6 to 8 cents at midday, influenced by spillover from wheat and recent rainfalls. The CmdtyView national average cash corn price decreased by 8 1/4 cents, reaching $4.08 1/4.
Recent rain across Nebraska, the Dakotas, and Minnesota is expected to deliver 1 to 2 inches in parts of Missouri, Wisconsin, Iowa, Illinois, Indiana, and Ohio over the next seven days. Export sales data shows old crop corn sales at 86.975 million metric tons (MMT), accounting for 103% of USDA projections, while accumulated shipments stand at 76.373 MMT, which is 90% of the USDA export estimate. New crop corn sales are slightly above last year’s figures at 8.624 MMT.
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