Corn Falling on Friday

Core Insights - Corn futures have decreased by 3 to 3 ¼ cents across most contracts, influenced by spillover pressure from wheat [1] - The national average Cash Corn price is reported at $3.79 1/2, down 3 1/4 cents [1] - Corn export sale commitments have reached a record 25.757 million metric tons (MMT), which is 75% higher than the same week last year and represents 34% of the USDA export projection [1] Summary by Category Market Performance - December 25 Corn is priced at $4.22 1/2, down 3 1/4 cents [2] - Nearby Cash Corn is at $3.79 1/2, down 3 1/4 cents [2] - March 26 Corn is at $4.39 1/4, down 3 cents [2] - May 26 Corn is at $4.48 1/4, down 3 cents [2] Supply and Demand - Analysts expect the USDA to report 1.336 billion bushels (bbu) of corn on hand as of September 1, with estimates ranging from 1.26 to 1.45 bbu [2] - A South Korean importer has purchased 68,000 metric tons of corn, although the origin is not specified [2] - Argentina's agricultural ministry reports that the country's corn crop is 12% planted, compared to 9% at the same time last year [2]