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Corn futures for December are up by 2 to 3.5 cents, maintaining strength above the $4.20 level, with the CmdtyView national average cash corn price at $3.77, up 2 cents. The U.S.-Japan trade deal, finalized on Thursday, involves Japan increasing purchases of U.S. agricultural goods, including corn, to a total of $8 billion annually, compared to $2.5 to $4.8 billion in recent years.
Export sales data revealed a net reduction of 280,943 metric tons for old crop corn, which is below the estimated reductions of 400,000 metric tons. New crop business was recorded at 2.117 million metric tons, outperforming estimates and up 1.3% from last week. StoneX projects the U.S. corn yield at 186.9 bushels per acre, down 1.2 from August, with total production expected at 16.577 billion bushels.
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