Corn futures prices increased on Thursday, with contracts rising by 3 to 4 ¼ cents. The CmdtyView national average Cash Corn price reached $4.35 1/4, up 3 3/4 cents.
Export sales data from the week ending July 16 reported 332,679 metric tons of old crop corn, below the estimated range of 400,000 to 800,000 metric tons. However, new crop sales improved to 701,505 metric tons, marking the 4th largest sale for this crop year and above the forecasted range.
Forecasts from NOAA predict minimal precipitation across much of the U.S., with southwest Nebraska, northern Missouri, and eastern Kansas expecting 1 to 2 inches.
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