Corn Slightly Higher on Thursday

Corn futures saw 1 to 1 1/2 cent gains in the front months on Thursday, boosted by export sales data. USDA reported weekly export sales of 1.464 MMT (57.6 million bushels) for the week ending September 12, stronger than what traders were expecting heading into today. That was the largest week 2 sales total since 07/08. Much of the business was sales to Mexico (1.158 MMT), most of which had been previously reported. A total of 64,914 MT was sold for 20/21. A trade delegation from Taiwan signed a Memorandum of Understanding with purchase commitments of 5 MMT of corn and 500,000 MT of DDGs over the next 2 years. That is on the high side of their historical annual MY range of purchases from the US.

DEC 19 Corn closed at $3.72 3/4, up 1 1/2 cents,

MAR 19 Corn closed at $3.84, up 1 1/2 cents,

MAY 20 Corn closed at $3.91 3/4, up 1 1/2 cents

JUL 20 Corn closed at $3.97 1/2, up 1 cent

-- provided by Brugler Marketing & Management

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