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Corn Fading This Week’s Gains on Friday Morning![]() Corn prices are trading 3 to 4 on Friday morning. Futures finished the Thursday session with contracts closing 1 ¼ to 3 ½ cents in the green. That took the bulls’ winning streak to 4 days of admittedly modest gains. The Western Corn Belt remains mostly dry for the next week. Rain forecasts in the Eastern part of the Corn Belt have shifted a little further east, with western portions of IL seeing lower totals and coverage expanding in IN and OH. Some 2” plus accumulations may be seen over the next week in TN, KY and southern IN and OH. NE and IA are looking at ¼ inch or less according to the QPF. Weekly Export Sales data showed 331,380 MT of old crop corn sold during the week that ended on July 18. That was on the lower end of the 200,000 to 700,000 MT estimates and a 15-week low. Sales for 2024/25 totaled 745,193 MT, besting the trade thoughts of up to 600,000 MT. Japan was the top buyer of both old and new crop, totaling 370,400 MT in total, with Mexico second for both and totaling 355,800 MT. Sep 24 Corn closed at $4.06, up 2 1/4 cents, currently down 4 cents Nearby Cash was $3.99 5/8, up 1 3/4 cents, Dec 24 Corn closed at $4.20 3/4, up 2 3/4 cents, currently down 3 1/4 cents Mar 25 Corn closed at $4.35 1/4, up 3 cents, currently down 3 1/4 cents New Crop Cash was $3.84 3/4, up 2 3/4 cents, On the date of publication, Alan Brugler 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. |
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