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The corn futures price remained stable at $4.90 despite mixed macro signals. Investors say the lack of significant movement could reflect uncertainty ahead of key economic data releases related to inflation and consumer demand. Export sales data was not released this morning due to the government shutdown. Traders were looking for between 1.2 an 2.2 MMT of corn sold in the week ending on September 25. That has also pushed some wheat prices for August delivery as well, with Fastmarkets’ assessment for Russian 12.5% wheat up by $3 per tonne to $228 per tonne FOB for August shipment, while 11.5% wheat was at $221 per tonne FOB, but price ideas for that grade were generally scarce. Corn futures price stood at $4.93 during early pit hours, boosted by gains in soybeans. Inter-market spreads between corn and soy contracts suggest funds are rotating capital into grain assets more broadly.
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