Corn futures are trading with 1 to 2 cent losses in most contracts on Friday. The CmdtyView national average Cash Corn price is down 1 cent at $4.10 1/4. Crude oil is falling $11.27 on the day following Iran agreeing to open the Strait of Hormuz this morning.
Export Sales data from Thursday morning took corn export commitments to 72.79 MMT as of April 9, up 29% from a year ago. That is 87% of the USDA export projection for 2025/26, which is lagging from the 90% average pace. Shipments are now 50.52 MMT, 60% of USDA’s number, and ahead of the 56% pace.
Buenos Aires Grains Exchange estimates the Argentina corn crop at 61 MMT, up 4 MMT from their previous number. That is in the direction of the Rosario Grain Exchange at 67 MMT, with the USDA down at 52 MMT.
May 26 Corn closed at $4.47 1/2, down 1 cent,
Nearby Cash was $4.10 1/4, down 1 cents,
Jul 26 Corn closed at $4.56 1/4, down 1 1/2 cents,
Dec 26 Corn closed at $4.75, down 1 3/4 cents,
New Crop Cash was $4.32, down 1 3/4 cents,
