Corn Futures Decline Amid Strong Export Commitments

Corn futures are down today, continuing its weak trajectory. Despite this, export sales show a strong commitment for the 2024/25 crop, 25% larger than last year. Investors should watch these trends closely as they impact market stability.

Date: 22-03-2025

AI Rating: 6

Corn futures are experiencing weakness, with contracts down between 2 to 6 cents at midday. This downturn follows a day of strength, suggesting market volatility. The national average Cash Corn price also reflects this decline, down 5 3/4 cents at $4.27 1/4.

However, **Strong Export Commitments** present a silver lining. The Export Sales data indicates 1.497 MMT in bookings for the 2024/25 crop, bringing total export sale commitments to 52.031 MMT. This is significant as it represents a 25% increase compared to the same period last year. Additionally, it accounts for 84% of the USDA export projection, which is 1 percentage point ahead of the 5-year average sales pace.

This scenario provides an interesting paradox: even with falling futures prices, the data indicates that demand for corn is robust. The Buenos Aires Grain Exchange reports that the Argentina corn crop is currently 14% harvested, which could also affect future price trends in the international market.

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