Corn prices showed mixed trends on Friday morning, with the May contract down 1.25 cents at $4.64 3/4 and other contracts rising by 2 to 3 cents. The USDA’s Export Sales report revealed that old crop corn sales reached 1.598 million metric tons (MMT) for the week ending April 23, the highest since late February, with Colombia purchasing 420,300 MT. Notably, there were no new crop sales reported for the first time in 13 weeks.
The US House of Representatives passed its version of the farm bill without provisions for year-round E15 sales, advancing it to the Senate. Significant rainfall is forecasted for the Corn Belt, with 1 to 1.5 inches expected in Missouri and the Eastern Corn Belt within the next five days, which could aid crop planting.
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