Corn Pops Surge on Thursday Amid Strong Export Demand

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Corn futures gained on Thursday, with December contracts rising by 6 ¼ cents to close at $4.37 3/4. The CmdtyView national average Cash Corn price also increased by 4 cents to $4.02 3/4.

The USDA reported private export sales of 100,800 MT of corn to Colombia and 392,500 MT to Mexico. For the week ending October 30, total corn sales reached 1.99 MMT, exceeding trade estimates of 0.8-2.5 MMT and marking the third largest total for the marketing year.

In Brazil, exports for November were recorded at 5.03 MMT, a 6.48% increase year-on-year, but a 22.58% decline from October. Corn shipments for December are projected at 4.99 MMT, up from 3.62 MMT in the same period last year.

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