Corn futures are reverting lower from the Wednesday gains, with contracts down fractionally in the new crop contracts to 2 cents in the nearbys at midday. The CmdtyView national average Cash Corn price is up 2 cents at $4.12 3/4.
Export Sales data from this morning showed 1.4 MMT of old crop corn business, which fell in the middle of trade estimates of 0.8-1.8 MMT. That was a 6-week high and but was 10.3% below the same week last year. New crop sales were tallied at 56,460 MT, which was within trade ideas of 0-150,000 MT.
