Corn

Corn futures are currently fractionally lower after posting 1 to 1 3/4 cent gains on Thursday. The USDA Export Sales report indicated shipments of corn for the week ending 4/5 were a marketing year (MY) high at 1.912 MMT. That is up 51.1% from the previous week and 19.68% larger than last year. Japan was the main destination of 435,000 MT, as 365,400 MT was shipped to Mexico. Export commitments of corn slipped slightly from last week but are still down just 0.76% from a year ago. They are running above the average pace of 84% to reach the USDA export projection at 85% complete. China sold 3.33 MMT of corn from state reserves on Thursday, totaling 92.77% of the offered amount.




Market Commentary provided by:

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