Corn futures fell between 9 to 15 cents on Thursday, with May futures expiring that day, amid limited news from the Trump/Xi meeting. The national average cash corn price decreased by 13 cents to $4.27. Export sales data revealed that during the week of May 7, old crop corn sales totaled 684,786 metric tons (MT), marking a 59.2% decrease compared to the same week last year.
On Wednesday, the U.S. House of Representatives passed a bill for year-round E15 sales, which will proceed to the Senate, despite potential opposition from senators representing oil states. Meanwhile, Brazilian corn production estimates increased by 0.6 million metric tons to a total of 140.17 million metric tons, reflecting variations in crop yields across different planting seasons.
As of July 26, July corn closed at $4.67 1/2, down 13 1/4 cents, and September and December futures also experienced declines. The new crop cash price was reported at $4.43 1/2, down 12 1/2 cents.
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