Corn price action is trading with 5 to 6 cent gains at midday on Friday. The CmdtyView national average Cash Corn price is up 6 cents at $3.89 1/2.
The markets will be off on Monday for the Martin Luther King Jr. Day holiday. They will open back up on Monday evening.
USDA reported a couple private export sales this morning of 298,000 MT of corn during to unknown destinations, with 120,000 MT for Japan.
USDA Export Sales data as of January 8 has 52.035 MMT of corn commitments (shipped and unshipped sales), which is 29% above the same week las year. That is 64% of USDA’s forecast and ahead of the 62% average sales pace. Meanwhile, FAS actual shipment data is 28.97 MMT, of 36% of USDA’s projection vs. a 26% average shipping pace.
A couple South Korean importers purchased 130,000 MT of corn in private purchase overnight.
Mar 26 Corn is at $4.26 1/4, up 6 cents,
Nearby Cash is at $3.89 1/2, up 6 cents,
May 26 Corn is at $4.33 1/4, up 5 1/2 cents,
Jul 26 Corn is at $4.39, up 5 cents,
