Corn prices showed modest gains at midday on August 25, 2023, with nearby cash corn up 2 cents to $3.67 1/2, while September corn rose to $3.84 1/2 and December corn increased to $4.09.
According to USDA Export Sales data released the same day, net reductions for the week ending August 21 were recorded at 17,797 MT, within the projected range of 150,000 MT to 200,000 MT. New crop sales reached 2.089 MMT, a drop of 26.9% from the previous week, but still the third-largest total for the marketing year.
Additionally, Canadian corn production is estimated to increase by 1.5% year-over-year to a total of 15.55 MMT, as reported by Statistics Canada.
