Corn futures are trading with contracts 6 to 7 cents lower at midday, reverting from the 17 to 20 cent gains on Wednesday. The CmdtyView national average Cash Corn price is 6 3/4 cents lower at $4.21 1/2.
Export Sales data was released this morning, with a total of 410,748 MT sold in the week of August 6 for old crop exceeding trade ideas of between net cancellations of 100,000 MT to sales of 400,000 MT. That was a 5 week high and well above the same week last year’s net cancellations. New crop sales were tallied at 924,532 MT in that week, which was in the middle of estimates calling for between 0.8-1.4 MMT. That was a 3-week low and down 54.9% from the same week last year.
