Corn Prices Slip Amid Wet Weather and Disappointing Sales
Corn futures are experiencing modest losses on Thursday, trading between 2 to 3 ½ cents lower across the front months. The national average Cash Corn price has dropped by 1 3/4 cents to $4.82 1/4.
The next seven days are expected to bring a wet pattern to the central third of the country, with significant rainfall forecasted for states including Nebraska, Iowa, Missouri, and Kansas. The Plains region through Indiana can expect between 1 to 4 inches of precipitation.
Thursday's export sales data revealed 838,328 MT of corn sold in the week ending September 17, falling short of trade expectations which ranged from 0.8-1.4 MMT. This marks a significant decline compared to the same period last year and is also lower than the previous week's sales.