Corn futures closed the Friday session with 5 to 7 1/2 cent grain on Friday. The market will be closed on Monday in observance of Labor Day.
Export sale commitments for old crop are 98% of the USDA forecast at 55.951 MT, with the average pace at 103% of that projection. FAS accumulated shipments are 52.949 MMT, or 93% of USDA’s export number, lagging the 98% average. Forward sales for new crop have jumped to 9.42 MMT, which is up 12.9% from the same period last year and in the middle of the past 10 years.
Taiwan purchased a total of 65,000 MT of corn in a recent tender overnight, with the expected origin out of South America.
Sep 24 Corn closed at $3.78, up 6 1/4 cents,
Nearby Cash was $3.63 7/8, up 7 1/2 cents,
Dec 24 Corn closed at $4.01, up 5 cents,
Mar 25 Corn closed at $4.19, up 5 cents,
New Crop Cash was $3.65, up 10 cents,
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