Corn Falls on Thursday After Weak Export Sales Data

The corn market closed out the Thursday session with contracts down ½ to 6 ¼ cents, retreating from the early week rally. The national average Cash Corn price from cmdtyView was down 5 cents at $4.15.

The weekly Export Sales report showed an 11-week low in corn bookings for 2024/25 at 946,863 MT, which was also below the expected 1.1 to 1.9 MMT in the week ending on 12/5. That was also down 45.3% from last week and 33.3% below the same week last year. The largest buyer was Columbia at 257,900 MT, with Mexico buying 194,900 MT. 

CONAB data was released this morning, showing expected Brazilian production at 119.63 MMT for the total corn crop, down 0.18 MMT from the month prior. That was solely due to the first crop, as the second crop corn projection was left unchanged at 94.63 MMT.

Dec 24 Corn  closed at $4.31 3/4, down 6 1/4 cents,

Nearby Cash  was $4.15, down 5 cents,

Mar 25 Corn  closed at $4.43 1/2, down 4 3/4 cents,

May 25 Corn  closed at $4.51, down 4 1/2 cents,

On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policyhere.

• Corn Demand in Focus: What The Cash Market May Be Trying To Say
• What the Election Results May Mean for the Corn and Soybean Markets
• Global Corn Dynamics: Surging US Export Demand, Smaller Supplies And A China Wildcard
• What Surprisingly Strong Cash Markets Are Saying About Corn And Soybeans