Corn futures are erasing the slight overnight strength, with contracts down 1 to 3 cents across the front month on Friday.
USDA’s Export Sales report showed 810,148 MT of corn booked in the week ending on May 23. That was an 11.1% drop from the week prior but still well above the same week last year and the largest for this week since 2019. Mexico was the top buyer of 382,500 MT, with another 165,000 MT sold to Spain. New crop business in the between the expected 0-400,000 MT range at 187,763 MT, mostly to Mexico (185,200 MT). Sorghum sales were tallied at 61,614 MT, the largest in the last 9 weeks.
Jul 24 Corn is at $4.47 3/4, down 1 cent,
Nearby Cash is at $4.29 3/4, down 7/8 cent,
Sep 24 Corn is at $4.55 1/2, down 2 1/4 cents,
Dec 24 Corn is at $4.68 1/4, down 2 3/4 cents,
New Crop Cash is at $4.33 3/8, down 1 1/4 cents,
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