The corn market is trading with 2 to 4 cent losses early on the Thursday session. Corn futures closed out the Wednesday session with weaker trade, as contracts were down 3 to 8 ½ cents at the close. Preliminary open interest rose 7,998 contracts on Wednesday, mostly in September, up 7,110. A light news day and rains in the forecast added to some bearish movement.  The front month CmdtyView national average Cash Corn price was down 8 1/2 cent at $4.25. 

Late on Wednesday, a Federal trade court ruled that President Trump’s liberation day tariffs were illegal, and he has exceeded his authority. The court gave the President 10 days to complete a process of halting the tariffs, while the white house is appealing the ruling.

EIA data is delayed until Thursday due to Monday’s holiday, with traders looking see if ethanol production can hold its resurgence from the week prior. Export Sales data will be out on Friday.

Jul 25 Corn  closed at $4.51, down 8 1/2 cents, currently down 4 cents

Nearby Cash  was $4.25 1/1, down 8 1/2 cents,

Sep 25 Corn  closed at $4.29 3/4, down 4 cents, currently down 2 1/2 cents

Dec 25 Corn  closed at $4.43 1/2, down 3 cents, currently down 2 cents

New Crop Cash  was $4.02, down 2 1/2 cents,