Corn futures were down 9 to 15 cents in the front months on Thursday, falling with the rest of the grain complex as very few details were announced out of the Trump/Xi meeting. May futures expired today. The CmdtyView national average Cash Corn price was down 13 cents to $4.27.
A bill to approve year-around sales of E15 was passed by the US House of Representatives on Wednesday evening. It will now go through the Senate, facing some hurdles from oil state senators.
Export Sales data from Thursday morning showed old crop corn business in the week of 5/7 at just 684,786 MT. That was the second lowest total for the marketing year, just half of the week prior and down 59.2% from the same week last year. Mexico was the top buyer of 232,000 MT, with 222,000 MT sold to Colombia and 182,800 MT to Japan. New crop sales were just 400 MT, all to Honduras.
CONAB data from this morning showed total Brazilian production up 0.6 MMT from their previous estimate to 140.17 MMT. That came via a 0.49 MMT increase to the first crop, with the second crop down 0.66 MMT. The third, or late crop from the northern regions, was up 0.77 MMT.
Jul 26 Corn closed at $4.67 1/2, down 13 1/4 cents,
Nearby Cash was $4.27 1/1, down 13 cents,
Sep 26 Corn closed at $4.74 1/4, down 13 cents,
Dec 26 Corn closed at $4.91 1/4, down 11 3/4 cents,
New Crop Cash was $4.43 1/2, down 12 1/2 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. For more information please view the Barchart Disclosure Policy here.
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