Commodities
Corn Prices Retreat as Futures Contracts Close Higher
Corn prices are experiencing losses on Thursday morning after reaching three-year highs on Wednesday. The futures market saw contracts close 10 to 13 ½ cents higher, but open interest was down 5,593 contracts on Wednesday, with a significant portion of that via September (-33,850).
The strength in wheat and supply concerns over the US crop have been supportive factors for corn prices. The CmdtyView national average Cash Corn price was up another 13 1/2 cents at $4.85.
Today's market will be watching the release of Export Sales data, which is expected to show net reductions of 200,000 MT to net sales of 400,000 MT for 2025/26 sales in the week ending on August 20. New crop bookings are anticipated to be in a range of 0.6-1.6 MMT in that week.