Corn Slipping Back at Thursday’s Midday

Corn futures have been declining throughout the day on Thursday, with contracts losing 2 to 3 cents each by midday. The national average Cash Corn price, according to CmdtyView, has dropped by 2 3/4 cents to $4.82 1/4. Export Sales data from this morning revealed 31,220 metric tons of old crop corn for the week of August 20, which was in line with estimates of a net decrease ranging from 200,000 MT to 400,000 MT.

This marked the lowest point for the marketing year. Meanwhile, new crop bookings stood at 1.066 million metric tons, slightly higher than the expected range of 0.6-1.6 MMT for that week.