Corn futures experienced gains of 2 to 5 cents on Tuesday, supported by the wheat market. The CmdtyView national average Cash Corn price rose by 2.75 cents, reaching $4.28 1/4 per bushel. As of Sunday, the U.S. corn crop was reported to be 25% planted, 6% ahead of the five-year average of 19%, with 7% emerged, 3 percentage points faster than normal.
Notably, a South Korean importer purchased 60,000 metric tons of corn in a recent tender, while Taiwan issued a tender for 65,000 metric tons with offers due Wednesday. Key prices included May corn at $4.63, up 2.25 cents, and July corn at $4.73 1/4, up 4 cents.
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