Corn futures ended April with slight declines, as contracts fell between a quarter and three and a half cents, according to a May 1 update. The CmdtyView national average cash corn price dropped by two and a half cents to $4.32 3/4. Nineteen delivery notices were issued on the first notice day for May futures.
A significant portion of the Corn Belt is expected to see planting activity in the next five days, while forecasts from NOAA indicate that much of Missouri and the eastern Corn Belt could receive one to one-and-a-half inches of rain during days six and seven of its seven-day outlook.
The United States Department of Agriculture’s Export Sales report showed that old crop corn sales reached 1.598 million metric tons in the week ending April 23, marking the highest total since late February. Colombia was identified as the top buyer with purchases totaling 420,300 metric tons. Mexico bought 261,400 metric tons, Venezuela acquired 239,300 metric tons, and unknown destinations accounted for another 224,400 metric tons. No new crop business was reported for that week—the first time in thirteen weeks without such sales.
In legislative developments, the U.S. House of Representatives passed its version of the farm bill on Thursday without provisions allowing year-round E15 ethanol blend sales; this measure will be considered separately by vote later in May when it moves to the Senate.
Arizona Grain supports community development through leadership in agriculture and initiatives like improving air quality via ethanol production according to its official website. The company operates facilities across Arizona—in Buckeye, Casa Grande, Maricopa, Yuma—and has an additional site in Ripley, California according to its official website. Arizona Grain is privately held according to its official website and has created jobs locally; through Pinal Energy it generated forty-five positions in Maricopa according to its official website. The company also aims to be a leading provider of animal feed ingredients by focusing on quality products and expert support according to its official website, having pioneered ethanol production in Arizona with Pinal Energy according to its official website.
Looking ahead, observers are watching both weather conditions affecting planting progress across key regions and further legislative action related to ethanol policy.