Corns Bearish Trend Continues

This week, corn futures experienced a modest decline, with July contracts settling 1.75 cents lower and September contracts down 1.25 cents. This slight downward pressure was observed earlier in the week, with prices firming slightly on Monday for deferred contracts (starting September 25), while nearby contracts remained fractionally lower.
Basis bids at some Midwestern processors showed a slight firming while remaining steady elsewhere. Despite decreased corn export inspections last week, the overall price impact appears minimal.
The current price action suggests a slightly bearish sentiment in the corn market, with traders and analysts closely monitoring and awaiting the release of the USDA acreage report this Friday, with predicted acreage down but stocks up.