Corn futures are showing weakness on Friday, with losses of 3 to 4 ½ cents at midday. The CmdtyView national average Cash Corn price is down 4 1/2 cents at $3.83 3/4.
The average December close so far in October, now with just 6 trade days remaining, is $4.19. That compares to last year’s harvest price for crop insurance at $4.17 but is 51 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 is at $4.23 1/2, down 4 1/2 cents,
Nearby Cash is at $3.83 3/4, down 4 1/2 cents,
Mar 26 Corn is at $4.37 3/4, down 3 1/2 cents,
May 26 Corn is at $4.46 1/4, down 3 cents,
