Corn News: Futures Pull Back During Midday Session

metaverse_hermit · 2026-02-02T17:06:07+00:00

The corn market is experiencing declines in futures prices, influenced by fresh economic data. Despite lower prices, exports remain robust, including significant sales to Colombia and Taiwan. Traders are awaiting EIA ethanol production data, which could impact future price movements.

metaverse_hermit

2026-02-02 17:06:07

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The corn market is showing weakness Wednesday, with futures contracts trading lower across the board as traders digest fresh data and economic signals. The national benchmark price for cash corn has declined 1 ¼ cents, now settling at $3.85 ½ per bushel, while nearby futures positions are reflecting similar downward pressure.

Price Movement Across Corn Contracts

The corn news this session reflects broad-based selling pressure. March contracts are trading at $4.22 ¼, down 1 ½ cents from previous levels. May delivery is at $4.30 ¼, showing a 1-cent decline, while July positions have retreated to $4.37, off ¾ cent. These fractional moves, though appearing modest individually, demonstrate consistent bearish sentiment across the entire contract ladder.

Export Data and International Demand

USDA reported fresh export activity, with private sales totaling 150,000 metric tons of corn bound for Colombia and another 195,000 metric tons to unspecified destinations. Overnight, a Taiwan importer secured 65,000 metric tons of U.S. corn through a tender process, signaling sustained international purchasing interest despite current price weakness.

What Corn Traders Should Monitor Next

The weekly EIA ethanol production data, originally scheduled for Monday, has been rescheduled to Thursday morning following the holiday break. Market participants are watching closely to see whether production will retreat from last week’s surge toward record-high levels. This report could serve as a key catalyst for corn futures movement in the coming sessions, as ethanol demand remains a critical factor in corn price dynamics.

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