Corn futures are trading with contracts fractionally to 2 cents lower on Friday, more than a dime of the early lows. The CmdtyView national average Cash Corn price is down 1 cent at $4.83.
Limited information has been released on what was discussed between US and Chinese leaders this week, though a report late on Friday morning indicated USTR Greer was looking for some details to be released on Monday.
Heavy rains continue to show up in the forecast for the next week according to NOAA, with 1 to upwards of 4 inches expected from TX to the Great Lakes, and NE to IN. Ohio and a line east of the Ohio river are expected to see lower totals.
Export Sales data from Thursday took total corn export commitments to 18.238 MMT, a decline of 29% from a year ago. That was still 22% of the USDA projection and behind the 29% average sales pace.
Dec 26 Corn is at $5.26 3/4, down 3/4 cent,
Nearby Cash is at $4.82 1/1, down 1 cent,
Mar 27 Corn is at $5.40, down 1 1/2 cents,
May 27 Corn is at $5.46 1/4, down 2 cents,
Austin Schroeder
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