Corn Heading Lower After Weak Export Sales Data

Austin Schroeder Barchart Thu Dec 12, 12:15PM CST
Market corn on the cob via Storyblocks

The corn market is facing 4 to 6 cent losses across the nearbys to Thursday’s midday. There were 172 deliveries issued against December corn futures overnight, all by a Marex customer. The national average Cash Corn price from cmdtyView was down 5 cents at $4.15.

The weekly Export Sales report showed an 11-week low in corn bookings for 2024/25 at 946,863 MT, which was also below the expected 1.1 to 1.9 MMT in the week ending on 12/5. That was also down 45.3% from last week and 33.3% below the same week last year. The largest buyer was Columbia at 257,900 MT, with Mexico buying 194,900 MT. 

CONAB data was released this morning, showing expected Brazilian production at 119.63 MMT for the total corn crop, down 0.18 MMT from the month prior. That was solely due to the first crop, as the second crop corn projection was left unchanged at 94.63 MMT.

Dec 24 Corn is at $4.32, down 6 cents,

Nearby Cash is at $4.15, down 5 cents,

Mar 25 Corn is at $4.43 1/2, down 4 3/4 cents,

May 25 Corn is at $4.50 3/4, down 4 3/4 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.