Corn prices showed a slight decline, with futures down 3½ to 5¾ cents on Thursday, June 29, 2023. The July corn contract closed at $4.17½, while the CmdtyView national average cash corn price decreased by 3½ cents to $3.86½. Open interest fell by 16,767 contracts, primarily in the July contract, down a total of 28,838 contracts.
The USDA reported a significant private export sale of 285,775 metric tons of corn to Mexico on the same day. Additionally, the weekly USDA Export Sales report indicated 1.157 million metric tons of corn sold for the 2025/26 marketing year, marking a 28% increase compared to the same week last year.
Forecasts from NOAA predict limited precipitation in portions of eastern Nebraska, Iowa, northern Illinois, Indiana, and Ohio over the next week, while regions from the Dakotas to Kansas may see 1 to 2 inches of rainfall.
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