Corn Futures Decline amid Export Reports and Market Fluctuations

Corn futures are trading down 7 to 10 cents across the front months this Friday, with the new crop falling by 2 ½ cents. Notably, March futures reported no deliveries overnight and are set to expire today. As of now, the CmdtyView national average Cash Corn price is lower by 7 1/2 cents, settling at $4.19 3/4.

USDA Reports Export Sales

This morning, the USDA announced private export sales of 218,604 metric tons of corn to an unknown destination during the reporting period.

Export Commitments Surpass Last Year’s Figures

Total export commitments for the U.S. now stand at 50.535 MMT, which is 35% higher than the same period last year. This figure represents 81% of the USDA’s export projection, aligned with the average sales pace of 80%.

South Korean Demand Increases

Additionally, there were reports of increased South Korean import purchases overnight, with two separate importers acquiring a total of 207,000 MT of corn.

Current Corn Market Prices

Mar 25 Corn is currently priced at $4.43 1/4, reflecting a decrease of 10 1/4 cents. Meanwhile, Nearby Cash is at $4.19 1/4, down 7 1/2 cents.

May 25 Corn rests at $4.57 3/4, down 7 1/2 cents, and Dec 25 Corn is now at $4.49 3/4, down 2 1/2 cents. Lastly, New Crop Cash is priced at $4.12 1/2, showing a decline of 3 cents.

On the date of publication, Austin Schroeder did not hold (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is for informational purposes only. For more details, view the Barchart Disclosure Policy here.

More news from Barchart

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.