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Austin Schroeder

Corn Weakness Extending Ahead of USDA Reports

Corn price action is down 1 to 2 ¼ cents so far on Tuesday AM trade. Futures saw some pressure on Monday ahead of the end of March USDA reports on Tuesday, with contract closing down 3 ½ to 6 ¼ cents. Open interest suggested new selling interest, up 8,424 contracts, mainly in the old crop, with the new crop December down 8,060 contracts. The CmdtyView national average Cash Corn price was down 6 cents to $4.13 1/2.

USDA reported a private export sale of 145,000 MT of corn to unknown destinations on Monday morning.

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