Corn futures ended Thursday’s trading session with losses ranging from 3.75 to 7 cents per bushel across the board. The front-month national cash corn price, as reported by cmdtyView, fell by 7 cents to settle at $3.715 per bushel.
The Export Sales report released this morning indicated corn bookings of 847,350 metric tons for the week ending September 12, falling within the estimated range of 550,000 to 1.4 million metric tons. This figure represents an improvement over the previous week and is 49.5% higher than the same period last year. Mexico was the largest buyer, acquiring 280,800 MT, while 183,400 MT were sold to unidentified destinations.
The International Grains Council revised its global production estimate downward by 2 million metric tons to 1.224 billion metric tons, while consumption was increased by 1 million metric tons. This adjustment led to a tightening of world stocks for the 2024/25 season by 1 million metric tons, reaching a total of 276 million metric tons.
December 2024 corn futures closed at $4.0575, down 7 cents. Nearby cash corn was quoted at $3.715, also down 7 cents. March 2025 corn futures settled at $4.2425, a decline of 6.5 cents, while May 2025 futures closed at $4.3525, down 6.25 cents.