Corn futures are fractionally to a penny lower at midday. The USDA Export Sales report indicated that 985,702 MT of old crop corn was sold in the week of May 10. That was near the top of the range of expectations and nearly 3.5 times as large as this time last year. Japan bought nearly 401,500 MT, with 154,500 MT switched from unknown destinations. New crop sales totaled 129,240 MT. China sold 1.427 MMT of 2014 and 2015 corn from state reserves on Friday, totaling 80.48% of the totaled offered.

Jul 18 Corn is at $3.98 1/2, down 3/4 cent,

Sep 18 Corn is at $4.07, down 1/2 cent,

Dec 18 Corn is at $4.16 1/2, down 1/2 cent

Mar 19 Corn is at $4.24 1/2, down 1 cent

Market Commentary provided by:

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