Corn Holding Near Unchanged on Friday Morning

Corn is trading with contracts steady to fractionally higher on Friday morning. Futures posted losses of 1 to 4 ¼ cents across the board on Thursday, fading early gains. Open interest suggested some new selling, rising 14,127 contracts. The CmdtyView national average Cash Corn price was down 3 3/4 cents at $4.04. 

USDA’s Export Sales report from Thursday morning saw 1.295 MMT of 26/27 corn sales in the week of October 29. That was a 3-week low, and down 35.1% from the same week last year. Mexico was the largest buyer of 381,300 MT, with unknown destinations buying 253,500 MT. 

The monthly NASS Crop Production report will be released on Tuesday, with traders looking for corn yield to be trimmed by 0.6 bushel per acre, at 180.6 bpa according to a Bloomberg survey. Production is estimated to be cut by 54 million bushels to 15.98 billion bushels.

Dec 26 Corn  closed at $4.40, down 4 1/4 cents, currently up 1/4 cent

Nearby Cash  was $4.04, down 3 3/4 cents,

Mar 27 Corn  closed at $4.54 1/2, down 3 3/4 cents, currently up 1/4 cent

May 27 Corn  closed at $4.63 1/4, down 3 1/4 cents, currently unch

Dec 27 Corn  closed at $4.83 1/2, down 2 cents, currently unch

New Crop Cash  was $4.46, down 2 1/4 cents,