Corn price action is back up 5 to 6 cents so far on Friday morning. Futures fell back from the Wednesday rally on Thursday, with contracts falling 5 to 9 cents at the close. Open interest was up 11,566 contracts on Thursday. The CmdtyView national average Cash Corn price was down 9 cents at $4.18 1/4.
Export Sales data was released on Thursday, with a total of 410,748 MT sold in the week of August 6 for old crop. That was a 5 week high and well above the same week last year’s net cancellations. Spain was the top buyers of 257,600 MT, with 74,000 MT sold to Mexico. New crop sales were tallied at 924,532 MT in that week. That was a 3-week low and down 54.9% from the same week last year. Mexico was the top buyer of 416,400 MT, with unknown destinations buying 253,700 MT.
