Corn futures are trading with 8 to 9 ½ cent losses so far on Friday, as modest gains from this week are being faded at week-end.  

Rain forecasts in the Eastern part of the Corn Belt have shifted a little further east, with western portions of IL seeing lower totals and coverage expanding in IN and OH. Some 2” plus accumulations may be seen over the next week in TN, KY and southern IN and OH.  NE and IA are looking at ¼ inch or less according to the QPF. There is a little more rain in the forecast for parts of MN, WI , and parts of the eastern Dakotas.

Weekly Export Sales data shows 55.043 MMT of corn sold or shipped by July 18, which is 97% of the USDA full year projection. The long term average is to be 102% of that projection by now. Actual accumulated shipments are 84% of that estimate, 7% back of normal, though FAS data is lagging the Census data. Sales for the new crop shipments are 4.87 MMT so far, which is just barely above the same week last year. 

Sep 24 Corn is at $3.96 1/2, down 9 1/2 cents,

Nearby Cash is at $3.89 1/1, down 9 1/2 cents,

Dec 24 Corn is at $4.12 1/4, down 8 1/2 cents,

Mar 25 Corn is at $4.26 3/4, down 8 1/2 cents,

New Crop Cash is at $3.74 1/8, down 9 1/2 cents,