Corn Prices Pull Back as Export Sales Data Reveals Mixed Picture

Corn futures retreated on Thursday, reversing some of their gains from earlier in the week. Contracts for the nearby month dropped by 3 to 4.25 cents, while deferred contracts fell as much as 8.25 cents.

The CmdtyView national average Cash Corn price slipped back down to $4.82 after rising earlier in the week.

Export Sales data showed that 31,220 MT of old crop corn was sold for the week ending August 20, marking a marketing year low. The Netherlands purchased 100,560 MT, followed by Japan with 84,200 MT.

New crop bookings reached 1.066 MMT in the same week, a marketing year high. Unknown destinations bought 438,000 MT, while Mexico and Honduras each received significant shipments.