Corn Falling Back on Friday

Group 1 - Corn futures have decreased by 3 to 4.5 cents in the front months, with the CmdtyView national average cash corn price at $3.97, down 4.75 cents [1] - The average close for December futures this week is $4.57, while the February average close, which is used for spring base crop insurance, was $4.70 last year [1] Group 2 - Total corn export commitments stand at 58.735 million metric tons (MMT), which is 31% higher than the same period last year, representing 72% of the USDA's export projection [2] Group 3 - The USDA's WASDE report is expected next Tuesday, with no major changes anticipated for the US ending stocks, with an average trade guess of 2.215 billion bushels (bbu) [3] - StatsCanada reported corn stocks at 10.95 MMT as of December 31, reflecting a 3.3% decrease from the previous year [3]