Corn futures are trading with minor losses on Friday, recovering from earlier sharp declines. Contracts are down fractionally to 2 cents, erasing much of the early session weakness. The CmdtyView national average Cash Corn price slipped 1 cent to $4.83.
Details regarding recent discussions between U.S. and Chinese leaders remain limited, though reports suggest that USTR Greer may release additional information by Monday.
Heavy rainfall is forecast across key growing regions for the coming week, with NOAA predicting 1 to 4 inches of precipitation from Texas to the Great Lakes, extending northeast to Indiana. Ohio and areas east of the Ohio River are expected to receive lighter amounts.
Export sales data released Thursday brought total U.S. corn export commitments to 18.238 million metric tons, representing a 29% decrease from the previous year. Despite the decline, current export levels account for 22% of the USDA’s annual projection, trailing the historical average pace of 29%.
Dec 26 Corn is at $5.26 3/4, down 3/4 cent,
Nearby Cash is at $4.82 1/1, down 1 cent,
Mar 27 Corn is at $5.40, down 1 1/2 cents,
May 27 Corn is at $5.46 1/4, down 2 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.
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