Corn Prices Drop Amid Weakness in Related Commodities
Corn futures declined by 2 to 3¼ cents during Friday trading, with the December contract falling 2¾ cents for the week. The national average Cash Corn price dropped 3 cents to $4.82¼ as pressure mounted from weaker prices in wheat and soybeans along with losses in crude oil markets. Managed money investors added back 1,671 contracts to their net long position in corn futures and options according to CFTC data. Export sales of U.S. corn for the 2026/27 marketing year are currently at 17.4 million metric tons (MMT), down 27% from last year's level during the same period, representing only 21% of USDA export projections compared to a previous average of 28%. South Korea has recently purchased an additional 130,000 MT following Thursday’s sales totaling 260,000 MT. Key contract prices include Dec 26 Corn at $5.27½ (down 3 cents), Mar 27 Corn at $5.41½ (also down 3 cents), and May 27 Corn at $5.48¼ (down 2½ cents). The article notes no direct or indirect positions in the mentioned securities by its author, Austin Schroeder.
Topics: corn export_sales futures_prices