Corn futures saw gains of 1 ¼ to 5 ½ cents on Friday, with May contracts rising 13 ¼ cents for the week and December up 14 ½ cents. The CmdtyView national average cash corn price increased by 7 cents to $4.39 ¾.
The USDA announced a private export sale of 148,240 metric tons of corn to an unknown destination, comprising 78,240 metric tons for the old crop and 70,000 metric tons for the new crop. As of April 23, corn export commitments totaled 75.7 million metric tons, representing a 29% increase from the previous year.
Monthly Grain Crush data from NASS reported that 474.4 million bushels of corn were used in ethanol production in March, marking a 10.2% increase from February and a 4.76% rise year-over-year. The cumulative corn grind for the marketing year has reached 3.225 billion bushels, outpacing last year’s figures by 20 million bushels.
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