Corn futures faded lower on Thursday, as contracts were down 3 to 4 cents a the final bell. The CmdtyView national average Cash Corn price is $3.88 ½, with new crop at $3.79 1/2, down 3 ¼ cents. Spill over pressure from wheat was a factor.
The weather pattern for the next week continues to be a wet one from the Dakotas and Iowa to the Eastern Corn Belt.
USDA reported old crop corn export sales were a net 97,600 MT for the week ending July 10. That was a marketing year low, and below trade expectations of 500,000 MT to 1.2 MMT. New crop sales had been seen in a range of 400,000-900,000 MT. USDA indicated 565,900 MT in the holiday shortened week.
Sep 25 Corn closed at $4.02, down 3 1/4 cents,
Nearby Cash was $3.88 1/2, down 3 1/4 cents,
Dec 25 Corn closed at $4.21, down 3 cents,
Mar 26 Corn closed at $4.38 1/4, down 2 3/4 cents,
New Crop Cash was $3.79 5/8, down 3 1/4 cents,
