Corn futures traded lower on Friday, April 25, with contracts dropping between a fraction of a cent and two cents. The CmdtyView national average cash corn price decreased by 1 1/4 cents to $4.19 3/4.
This movement comes as corn export commitments reached 74.1 million metric tons as of April 16, marking a 28% increase compared to the same period last year. This figure represents about 88% of the United States Department of Agriculture’s (USDA) annual export projection but remains below the typical average of reaching about 92% at this time.
International demand continued with a South Korean importer purchasing a total of 67,000 metric tons of corn in a private transaction overnight. This follows another purchase by a separate South Korean importer for 134,000 metric tons on Thursday.
The May contract settled at $4.54 1/4 per bushel, down by 1 1/4 cents. Nearby cash was reported at $4.19 3/4 per bushel, also down by the same amount. July contracts closed at $4.62 1/4 per bushel after losing one and a half cents, while December contracts were at $4.83 per bushel with a decrease of half a cent. New crop cash stood at $4.40 3/4 per bushel, down one cent.
Legacy Farmers Cooperative is involved in supporting community initiatives such as local youth agricultural programs and scholarships according to the official website. The cooperative maintains facilities including grain centers and agronomy sites throughout northwest Ohio according to the official website, and operates as a member-owned organization according to the official website. With more than 150 employees across its divisions according to the official website, Legacy Farmers Cooperative aims to exceed customer expectations by providing value and financial returns for its members according to the official website.
The cooperative serves agricultural producers in ten counties across northwest Ohio according to the official website from its base in Findlay, offering services such as grain marketing, agronomy support, petroleum distribution and contributing staff expertise toward both farming needs and community programs focused on agricultural education for youth according to the official website.
