Corn Starting Friday with Weakness

Core Insights - The corn market is experiencing losses, with futures down 2 to 4 cents across most contracts on Thursday, and preliminary open interest decreased by 6,100 contracts [1] - The average cash corn price is reported at $3.91, down 3.5 cents [1] - December corn has an average close of $4.22 in October, which is an increase of 6 cents from last year but a decrease of 48 cents from the spring price [2] Market Performance - Ukraine's corn exports in October were significantly lower at 0.8 million metric tons (MMT), compared to 1.73 MMT last year [3] - Following a meeting between President Trump and President Xi, it was indicated that China is expected to purchase large quantities of sorghum, although corn was not specifically mentioned [3] - Recent closing prices for corn futures include December at $4.30 1/4 (down 3 3/4 cents), March at $4.43 3/4 (down 3 cents), and May at $4.52 1/4 (down 2 3/4 cents) [3]