Corn futures experienced fractional to 2½ cent losses at the close on Thursday, with the December contract settling at $5.27½, down 1½ cents. The CmdtyView national average cash corn price decreased by 1¼ cents to $4.83¾.
In export sales data released, the U.S. reported 838,328 metric tons (MT) of corn sales for the week ending September 17, significantly lower than the trade expectations of 800,000 to 1.4 million MT, and 18.3% below the previous week’s figures. Japan was the leading buyer with 247,000 MT, followed by Mexico with 211,000 MT and Colombia with 201,300 MT.
Looking ahead, the central U.S. is predicted to experience a wet pattern over the next week, with rainfall amounts ranging from 1 to 4 inches, particularly in Nebraska, Iowa, Missouri, and Kansas.
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