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Corn futures slip as traders unwind July positions
By midday, contracts were down 6 to 8 cents, and the national cash corn average fell 8 1/4 cents to $4.08 1/4.
Corn futures fell Friday as traders closed out July positions, with contracts down 6 to 8 cents at midday, alongside weakness in the broader grains complex, according to Yahoo Finance.
The article cited spillover from wheat, rain conditions, and month-end pressure as contributors to the move. It noted rain fell overnight across parts of the Northeast, the Dakotas, and Minnesota.
On the price side, the CmdtyView national average Cash Corn price was down 8 1/4 cents to $4.08 1/4.
For supply and demand indicators, the outlet said old crop corn export sales totaled 86.975 MMT, or 103% of the USDA number, while accumulated shipments were 76.373 MMT, or 90% of the USDA export projection. It added that new crop corn sales were 8.624 MMT, about 0.1% above the same period last year.
Latest closeWheat $638.00 ▼3.8%|Corn $463.75 ▲4.0%