Corn futures posted losses of 1 to 4 ¼ cents across the board on Thursday, fading early gains. The CmdtyView national average Cash Corn price was down 3 3/4 cents at $4.04.
USDA’s Export Sales report from this morning saw 1.295 MMT of 26/27 corn sales in the week of October 29. That was a 3-week low, and down 35.1% from the same week last year. Mexico was the largest buyer of 381,300 MT, with unknown destinations buying 253,500 MT.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.
The monthly NASS Crop Production report will be released on Tuesday, with traders looking for corn yield to be trimmed by 0.6 bushel per acre, at 180.6 bpa according to a Bloomberg survey. Production is estimated to be cut by 54 million bushels to 15.98 billion bushels.
Turkey issued a tender for 295,000 MT of corn for import, with a deadline on the tender for November 12.
Dec 26 Corn closed at $4.40, down 4 1/4 cents,
Nearby Cash was $4.04, down 3 3/4 cents,
Mar 27 Corn closed at $4.54 1/2, down 3 3/4 cents,
May 27 Corn closed at $4.63 1/4, down 3 1/4 cents,
Dec 27 Corn closed at $4.83 1/2, down 2 cents,
New Crop Cash was $4.46, down 2 1/4 cents,
On the date of publication, Austin Schroeder did not directly have a position 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.
More news from Barchart
Corn, Soybean, and Wheat Prices Are Heavily Oversold – a Rebound for Grains Could Be Coming Corn Prices Just Hit Their Most Oversold Level in 2.5 Years as Bulls Bet on a Rebound Harvest Pressure Is Squelching Corn, Soybean, and Wheat Prices Corn Prices Face a Bearish Storm of Fundamentals and Are Likely Headed Lower