Corn Up 7 to 8 Cents at Midday

Corn futures are trading 7 to 8 cents higher in the front months on Thursday, ignoring poor export sales data. USDA reported a flash sale of 122,000 MT of corn to Mexico this morning, with 52,000 MT for 18/19 and 70,000 MT for 19/20. The weekly Export Sales report indicated that just 38,402 MT of old crop corn was sold in the week of 6/13, well below the range of estimates. New crop bookings totaled 360,834 MT, the third largest this MY and in the middle of expectations. A total of 1.832 MMT of corn was sold form Chinese state reserves at an auction on Thursday, 46.11% of the amount offered.

Jul 19 Corn is at $4.48 1/2, up 7 1/2 cents,

Sep 19 Corn is at $4.53 3/4, up 7 1/2 cents,

Dec 19 Corn is at $4.60 3/4, up 7 1/2 cents

Mar 20 Corn is at $4.66 1/2, up 7 3/4 cents

--provided by Brugler Marketing & Management

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