Corn futures are seeing a slight decline at midday, with contracts down 1 to 3 cents. The CmdtyView national average Cash Corn price has dropped 2 1/2 cents to $4.05 1/4.
The USDA’s Export Sales report released this morning revealed 1.295 MMT of 26/27 corn sales for the week of October 29. This figure falls within the Reuters survey range of 0.8-1.8 MMT but marks a 3-week low and a 35.1% decrease from the same week last year.
Turkey has issued a tender for 295,000 MT of corn for import, with a deadline set for November 12. This development could influence future market movements.
Looking at specific contracts, Dec 26 Corn is at $4.41 1/2, down 2 3/4 cents. Nearby Cash is at $4.05 1/4, down 2 1/2 cents. Mar 27 Corn is at $4.56, down 2 1/4 cents, while May 27 Corn is at $4.64 3/4, down 1 3/4 cents. Dec 27 Corn is at $4.84 1/2, down 1 cent, and '27 New Crop Cash is at $4.47 1/2, down 1 cent.