Thursday morning the USDA released the latest corn export data. The report showed corn export net sales of 433,800 MT which is up 53 percent from last week, but 17 percent below the 4-week average. This year’s corn export sales high was set on March 20 at 1,914,908 MT.
The USDA reported increases for Japan (175,300 MT, including 40,600 MT switched from unknown destinations and decreases of 8,300 MT) South Korea (110,100 MT, including 55,000 MT switched from unknown destinations), Egypt (69,100 MT), Saudi Arabia (66,000 MT, including 60,000 MT switched from unknown destinations), and Venezuela (33,000 MT).
Corn futures closed limit down (30 cents) on Wednesday as July corn settled at $6.77 per bushel. On Thursday July corn opened lower, but had improved by $0.02 by mid-day.
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