Corn Futures Decline Midday as Export Sales Data Released

Corn futures are trading lower on Friday, with contracts down by 2 to 6 cents at midday. This drop follows a day of strength on Thursday. Specifically, the CmdtyView national average Cash Corn price decreased by 5 3/4 cents, now at $4.27 1/4.

The Export Sales data released Thursday morning reported 1.497 million metric tons (MMT) in bookings. Consequently, total export sale commitments for the 2024/25 crop have reached 52.031 MMT. This figure is still 25% larger than during the same period last year. Furthermore, it constitutes 84% of the USDA’s export projection and is ahead of the five-year average sales pace by one percentage point.

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According to the Buenos Aires Grain Exchange, 14% of Argentina’s corn crop is currently harvested.

May 25 Corn is priced at $4.63 1/4, reflecting a decrease of 5 3/4 cents.

Nearby Cash stands at $4.27 1/4, also down by 5 3/4 cents.

Jul 25 Corn is trading at $4.71, down 4 1/2 cents.

Dec 25 Corn is priced at $4.50 1/4, falling by 2 3/4 cents.

New Crop Cash is now at $4.13 3/4, a decrease of 3 1/4 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 serve informational purposes only. For more information, please see the Barchart Disclosure Policy here.

The views expressed in this article reflect the author’s opinions and do not necessarily represent those of Nasdaq, Inc.