Corn futures closed out April with modest losses, with May contracts down ¼ to 3 ½ cents, and the CmdtyView national average cash corn price falling by 2 ½ cents to $4.32 ¾. There were 19 delivery notices on First Notice Day for May futures. The USDA’s Export Sales report indicated old crop corn sales of 1.598 million metric tons (MMT) for the week ending April 23, the highest since late February.
The House of Representatives passed its version of the farm bill on Thursday, excluding provisions for year-round E15 sales. The bill will now proceed to the Senate, where votes on E15 legislation are expected in May. Meanwhile, weather forecasts suggest that parts of the Corn Belt may begin planting over the next five days, with NOAA predicting 1 to 1.5 inches of rain in much of Missouri and the Eastern Corn Belt.
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