“`html
Corn futures increased by 7 to 8 cents on Thursday, with the CmdtyView national average cash corn price rising to $3.70, up 7 cents. Export sales data showed a net reduction of 27,109 MT in old crop corn bookings, an improvement from last week’s 88,686 MT. New crop sales were recorded at 2.86 MMT, marking a 39.7% increase from the previous week, primarily driven by sales to an unknown destination (949,400 MT) and Mexico (749,000 MT).
Day 3 of the ProFarmer tour indicated Illinois corn yields at 199.57 bushels per acre (bpa), down from last year’s record of 204.14 bpa. In Iowa, yields were above last year and the three-year average, with northwest Iowa at 197.89 bpa, west-central at 207.25 bpa, and southwest at 195.03 bpa. The International Grains Council adjusted the global corn production estimate to 1.299 billion MT, a 23 MMT increase from the previous month.
Key futures prices included September corn closing at $3.87 1/4 (up 7 1/4 cents), December corn at $4.11 3/4 (up 7 3/4 cents), and new crop cash at $3.67 1/2 (up 8 3/4 cents).
“`
