Corn

Corn futures ended the Thursday session with most contracts 2 to 3 cents higher. This morning's USDA Export Sales report indicated that just 165,917 MT of old crop corn was sold in the week that ended June 14, well below estimates. That was lowest weekly sales total since the week of December 28. There was 584,700 MT reported in reductions for unknown destinations. New crop sales totaled 339,692 MT. Export shipments of corn were shown at 1.763 MMT, a 25.4% jump from last week and well above last year at this time. China sold 1.418 MMT of corn from state reserves on Thursday, totaling 35.6% of the offered amount. Two separate South Korean importers purchased a total of 126,000 MT of corn in tenders on Thursday. Of the total 60,000 MT was likely from the US and the remaining optional origin.

Jul 18 Corn closed at $3.57, up 2 3/4 cents,

Sep 18 Corn closed at $3.66 1/2, up 2 3/4 cents,

Dec 18 Corn closed at $3.78 1/4, up 2 1/2 cents

Mar 19 Corn closed at $3.87 3/4, up 2 1/2 cents




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