Corn futures are showing weakness on Friday, with losses of 3 to 4 ½ cents at midday. The CmdtyView national average Cash Corn price is down 4 1/2 cents at $3.83 3/4.
The average December close so far in October, now with just 6 trade days remaining, is $4.19. That compares to last year’s harvest price for crop insurance at $4.17 but is 51 cents below the February price.
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On Thursday evening, President Trump posted he had terminated trade talks with Canada due to unauthorized use of a former President Reagan speech regarding tariffs. No details were released on if/when trade talks would resume. Canada has been a large buyer of US ethanol.
Argentina’s corn crop was estimated at 33.8% according to the Buenos Aires Grain Exchange, an increase of 3.9% from the week prior.
Dec 25 Corn is at $4.23 1/2, down 4 1/2 cents,
Nearby Cash is at $3.83 3/4, down 4 1/2 cents,
Mar 26 Corn is at $4.37 3/4, down 3 1/2 cents,
May 26 Corn is at $4.46 1/4, down 3 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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
