Corn futures are trading with 6 to 8 ¼ cent gains across most contracts on Thursday’s midday. Crude oil is nearing the $80 level, up $4.78 at midday and providing some spillover support. The CmdtyView national averageCash Corn price is up 7 1/4 cents to $4.10 1/2.
Export Sales data for the week of February 26 from this morning showed 2.02 MMT in corn sales, exceeding analysts’ estimates of 0.6-1.6 MMT. That was nearly triple the previous week and more than double the same week last yar. New crop business was tallied at 154,000 MT, exceeding trade ideas of 0-100,000 MT.
