Corn Market Declines Amid Weak Export Sales

On Friday, the corn market experienced a downturn due to disappointing export sales. Futures closed with contracts down between 4 ¼ to 9 cents, mirroring declines seen across many commodities. For the week, March corn fell by 3 ¼ cents. The national average cash corn price, as reported by cmdtyView, decreased by 9 cents to $4.22 1/4.

Export Sales Show Significant Drop

This morning’s export sales report revealed 776,992 MT in 2024/25 wheat sales for the week ending December 26. This figure fell short of the 0.8 to 1.4 MMT estimates and marked a 54.6% decrease from the previous week, positioning it as the second lowest for the marketing year. Notably, Mexico was the largest buyer with 292,500 MT, while Japan purchased 179,100 MT.

Recent Price Movement

Mar 25 Corn closed at $4.50 3/4, down 8 3/4 cents.

Nearby Cash was recorded at $4.22 1/4, down 9 cents.

May 25 Corn ended at $4.58 1/4, also down 9 cents.

Jul 25 Corn closed at $4.61 1/4, reflecting a 9-cent decline.

At the time of publication, Austin Schroeder did not hold any positions (directly or indirectly) in the securities mentioned in this article. All information is provided solely for informational purposes. For further details, please refer to the Barchart Disclosure Policy here.

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