Corn

Corn futures are trading steady to a penny lower at the moment. They ended the Thursday session with most contracts 2 to 3 cents higher. Thursday morning's USDA Export Sales report indicated export shipments of corn at 1.763 MMT in the week that ended 6/14. That was a 25.4% jump from last week and well above last year at this time. Corn export commitments are still 3.27% larger than last year despite this week's lower sales total. They are now 97% of the USDA export projection, with the typical pace at 99% and last year at 100%. China sold 739,954 MT of corn from state reserves on Friday, totaling 18.64% of the offered amount. The House passed their version of the Farm Bill on Thursday.




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