CBOT corn slips as traders watch for deals from US-China summit
CORN•CBOT December corn futures fell 1-1/2 cents to $5.27-1/2 per bushel on Thursday as traders watched for potential Chinese purchases of U.S. corn. U.S. corn export sales were below trade expectations, while rain delayed harvests in the western Corn Belt.
1. Corn futures decline
CBOT December corn futures closed down 1-1/2 cents at $5.27-1/2 per bushel on Thursday as traders waited to see whether China would agree to buy U.S. grain in conjunction with the Washington summit between Presidents Donald Trump and Xi Jinping. Analysts said there were no concrete signs that China intended to buy U.S. corn.
2. Sales and harvest details
The U.S. Department of Agriculture reported net corn export sales of 838,300 metric tons for shipment in the current marketing year during the week ended September 17, below trade expectations. Analysts said rain was delaying harvests in the western Corn Belt. U.S. Treasury Secretary Scott Bessent said the United States and China had agreed to extend until January 10 an agreement pausing a trade war in which mutual tariffs topped 100%.
