CBOT corn slips in nearby contracts

Vaisala Oyj

02/05/2025 20:43

CHICAGO, May 2 (Reuters) - Chicago Board of Trade corn futures ended lower in nearby contracts on Friday and higher in deferred contracts.

Traders said they did not see strong fundamental reasons for the setback in old-crop futures and strength in new-crop contracts.

Export demand remains solid for old-crop corn as U.S. prices are attractive on the world market and supplies are limited in rival Brazil, they said.

Rain delayed U.S. corn plantings this week, though traders said they expect farmers will plant the crop quickly once the weather clears up.

Dry weather will open the door for more fieldwork in the Corn Belt next week, though rain will slow plantings in the southeastern Midwest, forecasting firm Vaisala said.

The U.S. Department of Agriculture is slated to issue a weekly update on corn and soy planting progress on Monday.

CBOT July corn CN25 closed down 3-1/4 cents at $4.69 per bushel. December corn CZ25, which represents the crop that will be harvested in the autumn, ended up 3 cents at $4.50-1/4.

 (Reporting by Tom Polansek in Chicago; Editing by Andrea Ricci)

 ((Thomas.Polansek@thomsonreuters.com))