Corn futures are down 3 to 3 ¼ cents across most contracts on Friday. Spillover pressure from wheat may be a factor. The CmdtyView national average Cash Corn price is down 3 1/4 cents at $3.79 1/2.
Export Sales data now hast corn export sale commitments at 25.757 MMT, a record for the third week in the marketing year and 75% above the same week last year. That is 34% of the USDA export projection, compared to the 30% average sales pace.
Heading into the September 30 Grain Stocks report on Tuesday, analysts surveyed by Bloomberg are looking for USDA to show 1.336 bbu of corn on hand as of September 1. The range of estimates is 1.26 to 1.45 bbu.
A South Korea importer purchased a total of 68,000 MT of corn in a tender on Friday, with the origin not listed. Argentina’s Ag ministry estimates the country’s corn crop at 12% planted, ahead of the 9% from last year.
Dec 25 Corn is at $4.22 1/2, down 3 1/4 cents,
Nearby Cash is at $3.79 1/2, down 3 1/4 cents,
Mar 26 Corn is at $4.39 1/4, down 3 cents,
May 26 Corn is at $4.48 1/4, down 3 cents,
