Corn futures prices for July climbed to $5.07 amid stronger-than-expected weekly export sales. Analysts see technical resistance near $5.10, which if breached could trigger algorithmic buy programs. StoneX estimates the US corn yield at 185.9 bpa, a 1 bpa reduction from last month, with production estimated at 16.737 bbu. Price action: December corn fell 2 3/4 cents to $4.19, near the session low. For the week, December corn lost 3 cents. Corn futures prices in Chicago for September 2024 climbed to $5.08, boosted by the NOAA forecast showing above-average temperatures in the Midwest, which may stress crop development. Traders are adjusting positions ahead of the June acreage report.
