Corn futures experienced declines on Tuesday, with losses of 4 to 5 ½ cents. The CmdtyView national average Cash Corn price fell by 5 3/4 cents to $3.65 1/4.
The USDA reported a private export sale of 128,000 MT of new crop corn to unknown destinations. Additionally, June corn exports reached 6.747 MMT (265.62 mbu), marking a 22.76% increase year-over-year, though 7.43% lower than in May. Ethanol exports were also up, hitting a record for the month at 173.67 million gallons, a 29.58% increase year-over-year.
US corn ratings remained steady at 73% good/excellent, according to the USDA’s Crop Progress report. Meanwhile, a South Korean importer issued a tender for 140,000 MT of corn with a Wednesday deadline.
