Corn futures experienced losses ranging from 2 to 9 cents on Friday, with July contracts down 16.5 cents for the week. The CmdtyView national average cash corn price declined by 9.5 cents to $4.07. Contributing factors included a $1.14/bbl drop in crude oil prices and significant fund selling ahead of the weekend.
For the week ending May 21, USDA Export Sales reported 1.015 million metric tons (MMT) of corn sold for the 2025/26 marketing year, marking a 52.2% decrease from the previous week but still 10.8% higher than the same week last year. Mexico was the largest buyer at 435,900 MT, followed by Colombia with 251,500 MT and Japan with 118,300 MT. New crop business saw a marketing year high of 618,594 MT.
Additionally, CFTC data showed that managed money reduced their net long position in corn futures and options by 87,850 contracts for the week ending May 26, bringing the total net long to 205,504 contracts as of Tuesday.
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