Corn prices experienced a decline of 2 to 3 cents on Friday morning, following fractional to 2 cent gains on Thursday. The CmdtyView national average Cash Corn price rose by 1.75 cents to $3.95 1/4. On Thursday, preliminary open interest saw a decrease of 5,812 contracts, primarily in the March and July contracts.
In export sales for the week of January 22, 1.649 million metric tons (MMT) of corn were sold, down from the previous week but 21.4% higher than the same week last year. Japan was the leading buyer with 365,100 MT, followed by Mexico with 350,800 MT and Colombia with 339,500 MT. Additionally, census trade data revealed a total of 7.305 MMT of corn shipped in November, marking the second-largest total for that month on record.
