Commodities
US Corn Futures Slip as Export Sales Trail Last Year
Corn futures are showing weakness on Friday, trading at midday with losses of 4 to 5 cents.
The CmdtyView national average Cash Corn price is down 4 1/4 cents at $4.57.
The USDA reported a private export sale of 218,600 MT of corn to Mexico this morning, with 173,800 MT for the 26/27 crop year, 22,400 MT for the 27/28 crop year, and 22,400 MT for the 28/29 crop year.
The total corn commitments from USDA are at just 18.774 MMT, which is 31% below the same time last year, representing only 23% of the US export projection and 8% behind the five-year average sales pace.