Corn prices are showing mixed movements at the start of Friday, with most contracts trading steady to 2 ¼ cents lower. On Thursday, December corn futures saw an increase of 6 ¼ cents, closing at $4.37 ¾, while the cash corn price rose by 4 cents to $4.02 ¾. Open interest increased by 11,560 contracts, signaling new buying interest.
Data released on Thursday reported weekly export sales of corn for the week ending October 30 at 1.99 million metric tons (MMT), exceeding trade expectations of 0.8-2.5 MMT and marking the third largest total for the marketing year. Additionally, Brazil’s November corn exports were recorded at 5.03 MMT, a 6.48% year-over-year increase but a 22.58% decrease from the previous month.
Statistics Canada projected 2025 corn production for the country at 14.867 MMT, reflecting a 3.1% decline from the same period last year.
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