Corn futures faded back on Thursday, after rallying in the first half of the week with contracts slipping 3 to 4 ¼ cents in the front months. Deferreds were down as much at 8 ¼ cents. The CmdtyView national average Cash Corn price was back down 3 cents at $4.82.
Export Sales data from this morning showed 31,220 MT of old crop corn for the week of 31,220 MT in the week ending on August 20. That was a marketing year low. The Netherlands was the buyer of 100,560 MT, with 84,200 MT sold to Japan, and a total of 277,500 MT cancelled for unknown buyers, most of which was switched to a destination.
