Corn futures gained 8 to 9.25 cents on Thursday, with the September contract reaching $3.88¾ and cash corn priced at $3.70½, up 8.5 cents.
In the week ending August 14, old crop corn export sales saw a net reduction of 27,109 MT, improving from a previous reduction of 88,686 MT. New crop bookings were reported at 2.86 MMT, surpassing analyst estimates of 0.9 to 2 MMT and marking a 39.7% increase from last week.
On the third day of the annual ProFarmer tour, the estimated corn yield in Illinois was 199.57 bpa, down from 204.14 bpa last year. Iowa’s yield averages exceeded last year across three districts, with figures of 197.89 bpa (northwest), 207.25 bpa (west-central), and 195.03 bpa (southwest).
