Corn Prices Rally Early Friday After Mixed Week
On Friday, corn prices rebounded by about 5 to 6 cents in early trading after a mixed week that saw futures decline on Thursday following earlier gains. Open interest dropped significantly ahead of the first notice day for September contracts. The national average Cash Corn price fell slightly during this period. Export sales data revealed low old crop bookings at 31,220 MT for the week ending August 20, with notable purchases from Japan and the Netherlands but significant cancellations to unknown destinations. New crop corn bookings reached a marketing year high of 1.066 MMT, though total accumulated sales were down compared to last year. Market participants are watching price movements in key contracts like September, December, and March as well as cash prices for signs of stability or further volatility.
Tickers: $CORN
Topics: corn export_sales futures_prices