The corn market is continuing the selloff on Friday, as contracts are down 5 to 10 cents so far on Friday. Today is first notice day for March corn futures, with no deliveries issued overnight. CmdtyView’s national average Cash Corn price is 10 3/4 cents lower at $4.23 ½.
President Trump’s 25% tariffs on Mexico and Canada are still set for a March 4 start date after some back and forth this week.
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Weekly Export Sales data has total export commitments for the 2024/25 crop at 48.664 MMT, which is 78% of USDA’s full year WASDE projection and ahead of the 76% average pace. Accumulated export shipments are now 26.567 MMT according to the FAS data, 32% above last year and 43% of USDA’s estimate and ahead of the 37% average shipping pace.
Updated Buenos Aires Grain Exchange data from Thursday tallied the Argentina corn crop ratings at 21% excellent, up 2% from last week, with poor ratings down 1% to 29%.
Mar 25 Corn is at $4.55 1/4, down 9 1/2 cents,
Nearby Cash is at $4.23 1/2, down 10 3/4 cents,
May 25 Corn is at $4.71, down 10 cents,
Dec 25 Corn is at $4.56, down 5 3/4 cents,
New Crop Cash is at $4.21 3/4, down 7 3/4 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 Policy here.
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