There was a partial decline in the price of corn early on Friday. July futures were up 1 to 2 ¼ cents on Thursday, after trading for September fell below $4. Initial open interest on Thursday had increased to 11,766 contracts. CmdtyView’s national average cash corn price was up 2 cents to $3.76 3/4.
Several private export sales were announced Thursday morning, including a reported 100,000 metric tons to Colombia, 140,000 metric tons to South Korea, and 136,000 metric tons to undisclosed destinations for 2025/26.
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Late Wednesday night, President Trump announced a trade deal with South Korea, setting U.S. tariffs on South Korean goods at 15%. The US and Mexico have also agreed to extend the tariff moratorium for another 90 days.
The USDA reported that a total of 340,924 metric tons of old crop corn was sold in the week ending July 24, down from the previous week, but still more than double the same week last year. Japan was the largest buyer at 175,400 MT, while 93,300 MT was sold to Mexico. New crop bookings reached 1.892 MMT, the highest level of the marketing year for the 2025/26 crop. Some of this was announced earlier (772,110 metric tons), as unidentified buyers purchased a total of 657,700 metric tons, while South Korean buyers bought 467,000 metric tons.
25 September Mecca Closed at $3.94, up 2 1/4 cents, currently down ½ cent
December 25 Corn Closed at $4.13 3/4, up 1 1/2 cents, currently down ¼ cent
March 26 Corn Closed at $4.30 1/2, up 1 cent, currently down ½ cent
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