Corn futures increased by 1 to 2 cents at midday on Thursday, with the December corn price reaching $4.36 3/4. The CmdtyView national average cash corn price rose 1 3/42 cents to $4.01 3/4. Additionally, the USDA reported a private export sale of 186,000 metric tons of corn to unknown destinations and a total export sales figure of 2.38 million metric tons for the week ending November 13, which was 59.3% larger than the same week last year and exceeded forecasts.
Recent Census data indicated record corn exports for September at 6.978 million metric tons, up 60.93% year-over-year. Ethanol shipments during the same month totaled 148.4 million gallons. Furthermore, the NASS released data showing a September corn grind at 435.36 million bushels, down 2.66% from last year, while October corn grind increased by 2.76% to 476.4 million bushels.
In international trade, a Taiwan importer purchased 65,000 metric tons of U.S. corn. Additionally, Brazil’s CONAB updated its corn production estimate to 138.88 million metric tons, reflecting a slight increase.
