The corn market is trading with 2 to 7 cent losses in most contracts on Wednesday, as futures pull back from recent strength. The national average Cash Corn price from cmdtyView is up 6 3/4 cents at $4.48 1/4.
USDA reported a private export sale of 136,000 MT of corn to unknown destinations this morning for 2024/25 shipment.
S&P Global estimates the 2025 corn acreage to total 93.5 million acres, a 700,000 acre increase from the December estimate.
A South Korean importer purchased a total of 136,000 MT of corn overnight. Algeria has tendered for 240,000 MT of corn, with offers due on Thursday.
Mar 25 Corn is at $4.83 1/4, down 6 3/4 cents,
Nearby Cash is at $4.48 1/4, down 6 3/4 cents,
May 25 Corn is at $4.92 3/4, down 7 cents,
Dec 25 Corn is at $4.57 1/2, down 2 1/4 cents,
New Crop Cash is at $4.28 3/4, down 3 1/4 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. More news from Barchart- Failure Points: Looking At What Is Priced In and What Isn't In The Grain Markets
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