Corn futures are trading with 1 to 3 ¼ cent losses so far on Thursday, after futures were gaining some strength early in the session.
The weekly Export Sales report showed 120,477 MT of old crop corn sold in the week of August 8, well below estimates. New crop sales were tallied at 800,518 MT, edging out the high side of trade expectations. Unknown was the purchaser of 345,000 MT, with Mexican importers buying 257,900 MT.
The International Grains Council estimates world corn production 1 million metric tonnes higher at 1.226 billion metric tonnes this morning. Stocks were down 1 MMT to 277 MMT.
Sep 24 Corn is at $3.77 3/4, down 3 1/4 cents,
Nearby Cash is at $3.65, down 3 1/2 cents,
Dec 24 Corn is at $3.98 3/4, down 2 cents,
Mar 25 Corn is at $4.16 3/4, down 1 1/2 cents,
New Crop Cash is at $3.59 3/8, down 2 1/2 cents,
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