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Barchart
Barchart
Austin Schroeder

Corn Pulling Back at Midday

Corn futures are trading with 2 to 3 cent losses across most contracts on Thursday. Outside pressure is a factors as the US dollar index is hitting a 2 month high and crude oil is down $1.01/barrel. The CmdtyView national average Cash Corn price is down up 2 1/2 cents at $3.77 1/4. The average close for December futures so far this month has been $4.20. 

Export Sales data will not be reported on Thursday due to the government shutdown, though traders surveyed by Reuters were looking for 1.2-2 MMT of corn sold in the week of 10/2.  ANEC estimates the Brazilian corn exports at 6 MMT for October, which would be an increase over the 5.67 MMT in October 2024.

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