Corn price action is trading with 2 to 3 cent gains early on Friday. Futures saw some buying off early lows on Thursday, as contracts closed with 1 to 2 cent gains across the front months. Preliminary open interest was up 6,527 contracts on Thursday. The CmdtyView national average Cash Corn price as up 1 1/4 at $3.75 1/4.
The US/Japan trade deal was finalized on Thursday afternoon, with the White House stating Japan will increase “purchases of United States agricultural goods, including corn, soybeans, fertilizer, bioethanol (including for sustainable aviation fuel), as well as other United States products, in amounts totaling $8 billion per year.” For reference, Japan’s annual buying of those three specific good totaled $2.5 to $4.8 billion over the last 5 years.
