Corn Weakness Extends to Friday’s Midday
Corn futures are trading with contracts 3 to 4 cents in the red so far on Friday. The front month CmdtyView national average Cash Corn price was down 3 ¼ cents at $4.17 ¾.
Precipitation over the next week covers much of the Corn Belt. While some areas in the East are a little slower getting the crop planted, for the crop already in the ground, this is generally welcomed.
Export Sales data has total commitments now at 62.088 MMT, which is 94% of the USDA export projection that was raised on Monday. Normally, export bookings are 95% of that projection by now. Actual export via FAS are 45.015 MMT, which is 68% of that USDA number and ahead of that average 66% pace.
Jul 25 Corn is at $4.44 3/4, down 3 3/4 cents,
Nearby Cash is at $4.17 3/4, down 3 1/4 cents,
Sep 25 Corn is at $4.21 1/4, down 3 3/4 cents,
Mar 26 Corn is at $4.50, down 3 1/2 cents,
New Crop Cash is at $3.93, down 3 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.