Corn Prices Slip as Export Sales Data Released
On Friday, corn prices declined by about 4 to 5 cents in early trading after recent gains. The previous day saw front-month futures contracts rise slightly while deferred 2027 contracts edged lower. Open interest increased by over 16,500 contracts as new buying activity continued. Export sales data showed strong old crop corn sales of nearly 333,000 metric tons for the week ending July 16, with Mexico and Taiwan being top buyers. New crop corn sales reached 701,505 MT—the fourth-largest sale this marketing year—but were down compared to last year. Unknown destinations accounted for a significant portion of new crop purchases. Weather forecasts indicate minimal rainfall across most U.S. regions, which could impact market sentiment in the coming days.
Tickers: $CORN
Topics: corn export_sales futures_trading