Corn futures were busy reverting from the Wednesday gains on Thursday, with contracts down fractionally in the new crop contracts to 2 3/4 cents in the nearbys at the close. The CmdtyView national average Cash Corn price was down 2 3/4 cents at $4.11.
Export Sales data from this morning showed 1.4 MMT of old crop corn business, which was a 6-week high but was 10.3% below the same week last year. Japan was the lead buyer of 339,400 MT, with 333,100 MT sold to South Korea and 168,400 MT to Mexico. New crop sales were tallied at 56,460 MT, which was all to Mexico.
