CBOT corn futures turn lower on the day, higher on the week

Apr 26, 202420:28 UTC

Chicago Board of Trade (CBOT) corn futures turned lower on Friday, on signs of profit-taking and as market participants watched for potential weather impacts to the pace of spring planting in the U.S. Midwest, analysts said.

But for the week, the most-active corn contract on a continual chart ZC1! rose 17-3/4 cents per bushel, or 3.81% - its biggest weekly advance since the week of March 4.
Most-active CBOT July corn (CN24) settled 2 cents lower, at $4.50 a bushel.
Rain and colder temperatures in the Midwest could hinder U.S. planting progress later this week, but could also be beneficial to the crop, analysts said.
U.S. corn was still not competitive with cheaper Brazil exports, according to analysts.
A small amount of U.S. farmer selling, mingled with farmers' focus on spring planting, also has been keeping basis bids steady in the cash markets.