The corn market closed out the Friday session with contracts down 1 to 4 ¾ cents. December was up just ¾ cent on the week. The CmdtyView national average Cash Corn price was down 4 1/2 cents at $3.83 3/4.
The average December close so far in October, now with just 5 trade days remaining, is $4.20. That compares to last year’s harvest price for crop insurance at $4.16 but is 50 cents below the February price.
On Thursday evening, President Trump posted he had terminated trade talks with Canada due to unauthorized use of a former President Reagan speech regarding tariffs. No details were released on if/when trade talks would resume. Canada has been a large buyer of US ethanol.
Argentina’s corn crop was estimated at 33.8% according to the Buenos Aires Grain Exchange, an increase of 3.9% from the week prior.
Dec 25 Corn closed at $4.23 1/4, down 4 3/4 cents,
Nearby Cash was $3.83 3/4, down 4 1/2 cents,
Mar 26 Corn closed at $4.37, down 4 1/4 cents,
May 26 Corn closed at $4.45 3/4, down 3 1/2 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com
