The corn market was under pressure on Friday as contracts were 2 to 4 cents in the red. July closed the week, giving all the previous gains back, down 15 ½ cents, as December lost 12 ¼ cents. The front month CmdtyView national average Cash Corn price was down 1 1/2 cents at $4.20 3/4. 

USDA reported a private export sale this morning, with 210,560 MT sold to unknown destinations, with 145,560 MT for 2024/25 shipment and 65,000 MT for 2025/26.

Export Sales data from this morning showed 916,712 MT in 2024/25 business, in the middle of traders’ estimates of 0.75 to 1.4 MMT in the week of May 22. That was a 7-week low but still 13.2% above last year. Japan was the largest buyer of 214,400 MR, with Mexico in for 201,500 MT and 157,900 MT sol to Colombia. New crop sales were 31,000 MT, on the lower side of the 25,000 to 400,000 MT expectations.

Friday afternoon’s Commitment of Traders report from CFTC showed the managed money net short position in corn futures and options backing off by 2,450 contracts to 100,760 contracts as of May 27^th. The commercial net short position was cut by 22,231 contracts to 150,061 contracts as of Tuesday.

Brazil’s corn crop estimate from Safras & Mercado was raised by 3.89 MMT to 139.03 MMT on a 3.82 MMT increase to their second crop number. USDA is at 130 MMT.

Jul 25 Corn  closed at $4.44, down 3 cents,

Nearby Cash  was $4.20 3/4, down 1 1/2 cents,

Sep 25 Corn  closed at $4.23 1/4, down 4 cents,

Dec 25 Corn  closed at $4.38 1/2, down 2 3/4 cents,

New Crop Cash  was $3.95 7/8, down 4 1/2 cents,