Corn Falls on Thursday as USDA Raises South American Production

Corn futures fell 7 to 10 1/2 cents across most contracts on Thursday as increased USDA balance sheet supplies pressured prices. The CmdtyView national average Cash Corn price dropped 6 3/4 cents to $3.80 1/2. Export sales data also showed 1.00 MMT of old-crop demand, but the article indicates supply-side pressure dominated the session.

Analysis

Corn futures fell 7 to 10 1/2 cents across most contracts on Thursday as increased USDA balance sheet supplies pressured prices. The CmdtyView national average Cash Corn price dropped 6 3/4 cents to $3.80 1/2. Export sales data also showed 1.00 MMT of old-crop demand, but the article indicates supply-side pressure dominated the session.