Corn futures are trading with 1 to 4 cents losses across the front months on Friday, extending Thursday’s slide. There was a total of 39 deliveries issued against September overnight, taking the total since first notice day to 350.

Export Sales data showed old crop corn with net reductions of 173,097 MT in the week of August 29. That was below estimates calling for net reductions of 100,000 MT to net sales of 200,000 MT but normal for the last week of the marketing year. New crop business was reported at 1.822 MMT, which was a MY high and above the estimated range of between 0.7 to 1.4 MMT. Mexico purchased 806,000 TM of that total, with 475,800 MT sold to unknown destinations. 

Sorghum sales totaled 61,950 MT for old crop and 251,000 MT for new crop. The total for the two marketing years of 312,950 MT is the largest since February. China was the buyer of the bulk. 

A South Korean feed importer purchased 68,000 MT of US corn in a tender on Thursday. Safras estimates the 2024/25 Brazilian corn acreage to be down slightly from last year at 51.57 million acres. Production, however, is expected to be well above a year ago at 133.57 MMT according to Safras estimates.

Sep 24 Corn is at $3.89, down 1 cent,

Nearby Cash is at $3.72 5/8, down 3 1/2 cents,

Dec 24 Corn is at $4.07 1/4, down 3 1/2 cents,

Mar 25 Corn is at $4.25 3/4, down 3 1/2 cents,

New Crop Cash is at $3.72 5/8, down 3 1/2 cents,