Corn futures failed to see much excitement following the US/Japan trade announcement, as contracts were heavy for much of the session and closing with fractional to penny losses. The CmdtyView national average new crop Cash Corn price was down 1/2 cent at $3.75.
Japan and the US agreed to a trade deal that was announced late on Tuesday. Tariffs will be set at 15% starting August 1. It also expects to boost rice imports by Japan, with Japan buying $8 billion in ag goods. For reference, ag and related exports to Japan have historically ranged from $12 to 16 billion annually.
