Corn futures closed out the Thursday session with contracts 3 ¾ to 6 ½ cents higher across the board. Futures were closing in on the highs set on last week’s initial spike. The CmdtyView national average Cash Corn price was up 6 3/4 cents to $4.27 ¾.
Export sales data from this morning showed 1.17 MMT of old crop corn sold in the week ending on 3/12. That was down 13.4% from last week and 11.7% below the same week last year. Mexico was the top buyer of 287,200 MT, with 194,900 MT to Japan and 142,300 MT to Spain. New crop business was at just 12,000 MT, all to Japan.
