Commodities
Corn Prices Slip Back as Futures Reverse Gains
Corn prices are experiencing losses on Friday morning, reversing from recent gains to start the final trade day of the week. According to Barchart, corn futures closed Thursday's session with contracts holding onto 2-3 cent gains in the front months and deferred 2027 contracts fractionally lower.
Open interest suggested new buying continuing to come in, up 16,521 contracts. The CmdtyView national average Cash Corn price was up 2 cents at $4.34 1/2.
Export Sales data from Thursday showed 332,679 MT of old crop corn business in the week of 7/16. Mexico was the top buyer of 203,300 MT, with Taiwan in for 152,000 MT. New crop sales were improved to 701,505 MT.