Corn futures showed gains on Thursday, with front-month contracts rising by 2 to 3 cents. The September 26 Corn closed at $4.64, while the Nearby Cash was at $4.34 1/2. The CmdtyView national average Cash Corn price increased by 2 cents, reaching $4.34 1/2.
In export sales, 332,679 metric tons (MT) of old crop corn were sold during the week of July 16, slightly up from the previous week but nearly halved compared to the same week last year. Mexico emerged as the top buyer with 203,300 MT, while new crop sales reached 701,505 MT, marking the fourth-largest sale of the marketing year, although down 4.4% from the previous year.
NOAA’s 7-day forecast indicates limited precipitation across most of the U.S., with only 1 to 2 inches expected in southwest Nebraska, northern Missouri, and eastern Kansas.
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